A Change in Terms of How Money is Transacted and Operated

A careful evaluation of historical events reveals that the concept of currency has been a point of contention among nations, persistently, over the ages. With the insurgence of a digital era taking over the world of finance at large, a change in terms of how money is transacted and operated in the global economy, is inevitable, an idea that Eshwar Prasad elaborates in this article in MIT Technology Review.

In order to understand this impending change in terms of how money is transacted and operated, it is essential to take into account its acute significance in every stage of economic transaction, the article reiterates. Alongside, it is also essential to bear in mind the fact that the ability to issue currency is often equated with the economic standing that a nation holds, in the stratum of finance. As per Prasad, in the face of a digital revolution across the world, therefore, a profound change in terms of how money is transacted and operated is bound to be altered, evoking a new era of competition among nations to survive within these altered dynamics of the financial world that will bring forth ground-breaking implications, far and wide.