Ecuador's Dinero Electronico, por "Boz":
The Miami Herald has an interesting article on Ecuador’s dinero electronico, the government-backed official virtual currency to allow payments by cell phone. The currency is currently pegged to the US dollar, which is Ecuador's official currency.
As described in the article, there are two key risks. First, it is unclear if Ecuador's Central Bank will properly back the currency over the long term. Second, many people speculate that the government is attempting to create a parallel currency that would allow them to de-dollarize. If that is true, they are a long, long way from that goal (there is less than a million dollars of Ecuador's virtual currency in circulation), but that would change the day the government decides to pay its workers or its bills in virtual currency.
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