JAKARTA (The Jakarta Post/Asia News Network): The future of central banking is at a crossroads. The flow of digital innovation has ostensibly not only disrupted the banking system but also penetrated more broadly the disruption of official currencies and central banking itself, primarily through the emergence of a private digital currency, commonly referred to as crypto-assets and stablecoins.
Technological innovation and changes in public behaviour are the main drivers of these dynamics. New technologies, particularly Web 3.0 and Distributed Ledger Technology (DLT), have further accelerated the massive development of crypto-assets and stablecoins, along with their various inherent opportunities and risks.
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