Digital Currency in Iraq: Crisis of Confidence.. The Biggest Obstacle

Digital Currency in Iraq: Crisis of Confidence.. The Biggest Obstaclelink to My FX Buddies BlogIf you 'd like to support My FX Buddies: ⁠https://buymeacoffee.com/tishwash⁠In a very distinctive step aimed at modernizing the financial system, Baghdad is exploring the possibility of issuing a national digital currency, in an effort to reduce reliance on paper money and enhance financial inclusion. However, despite the promising prospects of this step, the project faces a fundamental challenge represented by the lack of confidence of citizens in Iraqi banks, as a result of the accumulation of financial crises, administrative corruption, and weak banking services. Can such a step succeed in an environment that is ranked among the highest in the world in cash circulation outside the banking sector?