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Enthusiasts freely admit the buzzy collectibles are a bubble. But they’re betting NFTs are scaffolding for a new internet architecture that’s here to stay.
As cash vanishes without a central bank digital currency replacing it the public’s trust in the convertibility of deposits into official money may become an issue.
It isn’t the pandemic that’s putting this popular means of payment out of existence. All that Covid-19 has done is to accelerate a trend that was already with us.