The propect of converting the world monetary ytem of metal coin and printed paper into a computerized ytem of credit and debit i intriguing. Opponent of the idea regard a digital economy a a dangerou tep toward a totalitarian ociety in which an elite cla dominate an information-tarved lowercla. My view, however, i that converion to a digital economy ha far-reaching economic and ocial virtue that outweigh the potential rik of miue by a political elite.
Supporter of the idea of digital cah view the move to a digital economy a the next logical tep toward a global ytem of free trade and competition. Herein lie the main virtue of a digital economy. In facilitating trade among nation, conumer worldwide would enjoying a broader range of good at more competitive price.
In addition, a digital economy would afford cutomer added convenience, while at the ame time aving money for buinee. Making purchae with electronic currency would be imple, fat, and ecure. There would be no need to carry cah and no need for cahier to collect it. A good example of the convenience and aving afforded by uch a ytem i the pay and go gaoline pump ued at many ervice tation today, Uing thee pump ave time for the cutomer and ave money for the buine.