Digital currencies have great potential, but ceding control to a cartel of tech companies is not the answer. Facebook sent shockwaves through the world of finance with its vision to create ‘Libra’ – “a simple global currency and financial infrastructure that empowers billions of people”.

The underlying proposition is right: digital currencies have the potential to foster positive innovation, widen access to financial services, and give people greater control over their money. And our monetary system – increasingly in the grip of a tiny group of banks and card companies – is ripe for disruption and reform.

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Von Veritatis

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