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Blockchains And The War on Cash

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Blockchains And The War on Cash

Introduction

This article was posted on Monday, 19:33, UTC.

Currently, India faces devastating cash problems, unique and unprecedented especially for a country of its size. Governments of countries with highly developed financial systems too have proposed to scrape bank notes or at least decommission the highest denominations. In India, the government announced overnight their two largest denominations, worth roughly US$15 and 7.5 respectively, would cease to be legal tender immediately. Citizens had about one month to convert their cash reserves into new notes, with many problems being reported around the availability of notes and long queues at the bank tellers. As Bloomberg points out, less than 10% of all…

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Edward Talliot

Edward Talliot

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