The End of Cash? The Relevance of Digital Currencies Propelled by Central Banks
Asset Publisher
Back
The End of Cash? The Relevance of Digital Currencies Propelled by Central Banks
Aitor Merino
Modified 1 Year ago.
Report
The End of Cash? The Relevance of Digital Currencies Propelled by Central Banks
35 mins
17 JUNE, 2021
ANALYSTS:
Joaquín
Rivera
Ignacio
De la Torre
Leopoldo
Torralba
CATEGORIES:
Monetary PolicyCryptocurrenciesGlobalAER GlobalAER Personal
Share post
The debate about digital disruption in financial services has escalated since Satoshi Nakamoto created Bitcoin back in 2008. The use of cash is plummeting in many developed countries. In the UK, it has declined some 15% over the last few years, and 35% only in 2020, since the trend has been accelerated by the pandemic. BigTechs such as Facebook have announced the launching of their own digital currency, storming into the payments space. Central and commercial banks perceive this move as a real threat, so they have reacted quickly. According to the Bank for International Settlements (BIS), the advantages and disadvantages of Central Bank Digital Currency (CBDC) were being researched by 86% of banking institutions globally.
We use cookies to improve the quality of our website, as they allow us to customise, to a certain extent, the way each user navigates our site. For further information, please refer to our Cookies Policy. You may accept all cookies by clicking on "Accept cookies" or change your configuration settings at Change configuration settings
We use cookies for different purposes but mainly for improving performance and ad customisation, including information about associated areas, and how to set up your preferences, browser or devices.
Strictly necessary cookies
We use cookies to improve the quality of our website, as they allow us to customise, to a certain extent, the way each user navigates our site. For further information, please refer to our
Optional cookies
We use cookies for different purposes but mainly for improving performance and ad customisation, including information about associated areas, and how to set up your preferences, browser or devices.