Why Central Banks Could Mint Their Own Digital Currency
Mar 28, 2018 | 08:00 GMT
(LARS HAGBERG/AFP/Getty Images)
- Only 8 percent of global financial transactions today involve cash, but that figure will diminish even further as digital currencies gain prominence.
- Faced with the growth of cryptocurrencies such as bitcoin, central banks around the world will continue their research into introducing their own digital currencies.
- By entering the market for cryptocurrencies, central banks could pose a profound threat to the commercial banking business model.