Money is about to enter a new era of competition

Image credit: Lauren Simkin Berke. Article by Eswar Prasad. MIT Technology Review – April 12, 2022.

Digital technology is poised to change our relationship with money and, for some countries, the ability to manage their economies.

Money is one of humankind’s most remarkable innovations. It makes it possible to trade products and services across great geographic distances, between people who may not know each other and have no particular reason to trust each other. It can even be used to transfer wealth and resources over time. Without money, trade and commerce—all human economic activity, really—would be severely constrained in terms of time and space. […]

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