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Chief of Dutch Central Bank: US influence on payment systems is concerning, working on alternatives for Visa and Mastercard. (nos.nl)

submitted 4 days ago by Sunshine to c/[email protected]

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[–] [email protected] 3 points 2 days ago

To me, it is a bastard child who turned out noble. In India, the government a few years back had announced overnight invalidity of the highest two denominations of cash notes, in an ill-informed attempt to "eliminate black money". The alternative note to replace the two, was of even a higher denomination and often in scarcity due to the sudden and unplanned decision. (ATMs were malfunctioning due to the different size of the note). It was a chaotic time and many daily-wage earners, and other vulnerable groups, the economy as a whole suffered. These events indirectly led to a very good technological infrastructure, but I will always believe that the price included some of our blood. (It didn't have to be)

https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation