Word: skoorka
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...acceptance. "Between 40% and 50% of transactions today use cash and checks," says Steve Cone, an executive at Fidelity Investments. "The percentage is going down, but slowly. It's like Chinese water torture." And there are plenty of folks who still like cold cash just fine. Says economist Bruce Skoorka: "Look, every day there's a guy who shows up at a bank in Bogota with a big box full of cash. You think he wants to travel with a traceable digital-cash card...
...private sector," he observed in a 1996 paper. "As financial systems become more complex, detailed rules and standards have become both burdensome and ineffective." In fact, many governments are competing with one another to see who can offer the fewest regulations. And the money is following right along. Economist Skoorka calls this regulatory arbitrage--the flight of money from highly regulated markets to barely regulated ones...
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