Should PayPal be concerned about your country’s central bank?
Most governments may have no option but to join the digital currency bandwagon. With the introduction of digital currencies from central banks, the world of money is poised to enter a new era. Is it going to be a paradise of financial inclusiveness or a dystopia of financial instability? What if the project turns out to be a complete failure, unable to compete even with established private networks like PayPal Holdings Inc?
These are all conceivable scenarios. As a result of advances in technology, monetary authorities are now able to provide a new kind of electronic currency to the general public. A smartphone wallet linked to a conventional bank account will hold the buying power, which can be transferred in and out as needed. Instead of being a private asset, a person's cash in the ban...
