Digital Currencies: A New Tool for Governments and Corporations

Defined by the International Monetary Fund (IMF) and “also called the underground, informal, or parallel economy — the shadow economy includes not only illegal activities but also unreported income from the production of legal goods and services, either from monetary or barter transactions”. Potentially, every one of you reading this article are — or have at some point been— part of the shadow/informal economy, whereby reducing the potential tax due to a nation’s coffers! Who, me? Yes, as you pay a cash tip to someone in a bar or restaurant, pay…