Towards a highway for money

Ever since cash replaced the barter system of trade, it has been the most preferred mode of transaction. It is convenient, simple, quick to use and leaves no audit trail. However, like any other payment instrument, cash has multiple costs—that of cash handling, infrastructure as well as risks of fraud and counterfeits. Cash also fuels the “shadow” economy, i.e., commerce outside the tax net, a key concern for governments.

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