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Currencies will be digitised — if central banks work with the private sector

The digitisation of fiat currency will most likely follow a model with which central banks are quite familiar: a public-private partnership

Currencies will be digitised — if central banks work with the private sector
Photo: Getty Images

Cryptocurrency enthusiasts have received a boost in early 2020, as a series of market shocks have heralded a “safe haven” uptick in the price of bitcoin and its rivals. But they remain a niche removed from the mainstream.

By contrast, the conversation among institutional finance and central bankers is increasingly focused on digital versions of real-world currencies; the much-mooted digital dollar, euro or yen. But how can we begin to move them off the whiteboard and into widespread usage?

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