In an era where the US Federal Reserve and other central banks everywhere are increasingly intervening to manipulate monetary valuations, can a shared ledger technology used by the much ridiculed crypto-currency Bitcoin find new life as a facilitator of E-commerce?
India's rapidly evolving mobile economy is going to make digital money more important. Will socialists and other control freaks tolerate the use of e-currencies that exist outside of state control? As Jaitley has alluded to, the elimination of cash and the rise of digital transactions means elimination or curtailment of the black economy. But what ways will socialists and hawala-types find to throw a wrench in the works?