2014/09/02

Ecuador heralds digital currency plans
AP reports: "Ecuador is planning to create what it calls the world's first digital currency issued by a central bank, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar."

Comment: It's always interesting when the world gets a new payment system, but this is a very new development, it will need lots of work to be implemented and become trusted by the people of Ecuador. Still, if it works, promoting digital currencies could be an attractive nationalist alternative to developing countries chafing at the restrictions placed on them by the current international financial system.

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