India may have leapfrogged the US technology industry with simple and practical innovations and massive grunt work. It has built a digital infrastructure that will soon process a billion more transactions than bitcoin ever has. With this, India will skip two generations of financial technologies and build something as monumental as China’s Great Wall and America’s interstate highways. India launched its Unified Payment Interface (UPI), a way for banks to transfer money directly to one another based on a single identifier, such as the Aadhar number. With a system such as UPI, the billing processor is eliminated, and transaction costs are close to zero. The mobile phone and a personal identification number take the place of the credit card as the authentication factor. All you do is download a free app and enter your identification number and bank PIN, and you can instantly transfer money to anyone, regardless of which bank he or she uses.