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Twenty-five years in the past, in the daybreak of digital cash, Federal Reserve Board Chairman Alan Greenspan introduced a paper at the U.S. Treasury convention on “Electronic Money and Banking: The Role of Government,” the place he argued that the way forward for e-cash will depend upon the non-public sector’s “flexibility to experiment, without broad interference by government.” The COVID-19 pandemic has hastened the transition from paper forex to e-cash. People nonetheless need money, however more and more in digital type saved on cellular wallets slightly than in invoice folds.

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