Daily Archives: October 29, 2017

The Economic and Financial Effect of Demonetization

Due to technological advances, it has become easier to process payments without the use of paper currency. From PayPal to Venmo to Apple Pay, more transactions—both business and personal—are done electronically than in the past. As of 2015, 32% of all transactions in the U.S. were made using cash and 11% were made electronically. Taking…