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Spain activists, whistleblower creating digital pay system

A prominent French whistleblower and Spanish anti-corruption activists who triggered an investigation of a former International Monetary Fund chief announced Thursday they are designing a digital payment system aimed at excluding middlemen companies that make money from online purchases.

Herve Falciani and the Xnet group said their peer-to-peer payment system would work like PayPal on a local basis within European cities for citizen payments to participating businesses and governments.

Falciani and Xnet said it will be nonprofit, with a pilot program in Italy starting in March. They said excluding online payment companies would mean savings for local consumers and...

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