Fintech gets a clue, makes pure cash

Abra, a fintech company, spent two years figuring our how to emulate paper cash.  They think they got the solution, pure cash.   So, 40 years after geeks figured out how to emulate the manila folder, they now know how to emulate the dollar bill.

Business Insider: Peer-to-peer payments are nothing new, as "Venmo me" has become colloquial when splitting a restaurant check. But one company is trying to change the P2P payments game by utilizing blockchain technology.
Abra announced today that its smartphone app is now available on Android and iPhone in the U.S. Users can download the app, fund their Abra wallets immediately with their bank accounts, and send money completely free to other users by just entering their phone number.
But what makes Abra different from Venmo and other P2P payment apps?
“We’re trying to make it possible for the first time to send money between any two phone numbers in the world,” founder and CEO Bill Barhydt told Business Insider. "Venmo, PayPal, etc. physically take possession of your money, and that's an untenable proposition at a global scale."
So Barhydt went back to the drawing board a few years ago and rethought the problem from scratch. That led to the major idea behind Abra, which is to allow a consumer to hold digital cash on a smartphone for the first time with no third party holding their funds.