With the publishing of a highly anticipated report on US central bank digital currency (CDBC) last Thursday, CDBC’s will likely get more media coverage. A CBDC would serve as a purely digital version of cash that’s backed by the Fed and just as available to the public as physical cash. This recent article describes both the pros and cons of a CDBC. One big pro is that a CBDC could bring safe, fast, and accessible payments. An example of a con is:
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The Economy Is A Critical Area Of Convergence
Much is said about the critical role that science and technology play in shaping the future. This area of convergence continues to have a profound impact on that future. I have described the importance of convergence in various posts in the past, highlighting the impact of other domains like geopolitics, philosophy, and society. Another key domain is the economy. Understanding the global economy is critical to illuminating possible futures. The role of Central Banks has been instrumental in navigating extreme events like COVID-19, as well as the various boom and bust financial cycles of the past.
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Reimagining the Future 