Clarity of intent should define our digital rupee – Mint

(This column first appeared in Mint on February 7, 2022)

Imagine an ancient village that uses sacks of grain as a unit of exchange. A central granary is found to save cost, so it comes up, and farmers are issued IOU slips for the bags they put in. Since these notes promise grain and do not need to be lugged around, they soon start being used to buy stuff…

Share with