A study conducted by Dr. Eyal Argov of the Bank of Israel Research Department translated actual years of schooling into years of schooling in terms of earning capacity, and indicates that while the ultra-Orthodox have an average of 17 years of schooling, these are the equivalent of just 10 years of effective schooling in terms of earning capacity.
  It’s very hard to design governance structures that make appropriate provision for coordination while still allowing for normal competition to occur.   That suggests a role for leadership by payments regulators or central banks    In some ways, central banks have a natural leadership role because they act as a hub already in many payment systems.