Matolcsy: The evolution of money

English2021. máj. 26.100WORDSMatolcsy György

The next step in the evolution of money is indeed the introduction of central bank digital currencies. /Nicholas Gruen, FT 5/12/2021/

The internet proved to be a game-changer for communication and banking, allowing everyone to have an on-line central bank account.

Game-changing technologies in one area tend to transform nearly all other areas in our economy. So, in the aftermath of the internet, it was a matter of time to have a revolution in banking.

Besides, money is really the core economic public good, so ever-stronger governments will break up banks’ near monopoly on money creation. Also, they crave for our data, for the better or the worse.

All in all, central bank digital currencies are knocking at our doors.

Governor Matolcsy, MNB, the Central Bank of Hungary

Re “Central banks get serious on digital currencies

 feedback to the author