ITHACA – Advances in technologies that could affect banking, finance, and even the organization of society have brought money to the cusp of a revolution. The era of physical currency is ending, and that of digital currencies has begun. Once valued as the most definitive form of money, cash seems to be on its way out even in low- and middle-income countries. At the same time, a new round of competition between official and private currencies is heating up.

© Project Syndicate