Local currency: People walk pass a bank in Warsaw. Poland spent the 90s reforming its currency management, and eventually won the population’s trust in the zloty, both as a medium of exchange and as a store of value. — Bloomberg
NINE out of 10 central banks are exploring electronic versions of physical cash, according to the Bank for International Settlements’ (BIS) 2021 survey of monetary authorities released this month.
Nearly everyone, it seems, is convinced that the future of money is digital. While that might be right, does every country need to be on the bandwagon just yet?
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