Payments through near field communication technology (NFC) are seeing a steady increase in Brazil, with 285% growth in November 2020 in relation to the same month last year, according to research.
The study published by Rede, the payments arm of Brazilian bank Itaú Unibanco, also noted that transactions using NFC through channels such as e-wallets, smartwatches and cards equipped with the technology have seen a steady monthly increase of about 20% since May 2020.
Technology presses the central banks.
We have a fundamental problem. It does not work to have fiat bankers protect the sanctity of debt markets and apply a coin age tax.
The sedigniorage tax must be restored to Treasury as a limited inflation tax. Yellen and Powell have figured this out, I am sure. Bernanke never intended this to become a permanent tax.
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