Jan 18, 2023
A report published this week says that whether or not countries are ready for digital currencies or even understand the concept behind them, central banks are going to begin using them soon either way, and there isn't much that can be done about it. The Wall Street Journal's report touched on the issue of complexity, noting that digital currency is a "game-changing development [that] could have a profound impact on the banking system" despite the fact that "few people still understand it." The outlet noted: "Central-bank digital currency" doesn't exactly roll off the tongue. But you might want to get used to saying it. These so-called CBDCs, or digital versions of dollars, yuan, euros, yen or any other currency, are coming, say those who study them. And depending on how they are designed and rolled out, their impact on the banking system could be profound. "One hundred and fourteen countries are exploring digital currencies
