English Language · Reading Comprehension
Based on a passage discussing financial systems, the author states that the digitalization of fiat money 'largely ignored the underlying architectural constraint' and merely 'optimized the transmission mechanism.' What is the most accurate inference drawn from this critique?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Enhanced global financial inclusion proved to be an unintended side effect rather than a core design objective of centralized payment networks.
- 2The transition from physical cash to electronic ledgers primarily served the interests of central banks seeking better control over seigniorage.
- 3The improvement in transactional velocity was structurally dependent upon, and thus inseparable from, the centralized verification authority it aimed to circumvent.✓
- 4Mobile payment platforms, despite their speed, failed to address the systemic risk posed by too-big-to-fail financial intermediaries.
Correct answer
The improvement in transactional velocity was structurally dependent upon, and thus inseparable from, the centralized verification authority it aimed to circumvent.
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