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LONDON (Reuters) - If central bank digital cash is to rapidly replace banknotes, a shadow economy worth trillions of dollars may creep deeper into the darkness.
A big issue for governments and central banks then is the extent to which it s already going there - or whether the latest explosion in cryptocurrency values, for example, is at least partly pricing its imminent arrival.
Monetary authorities from Beijing to Frankfurt have over the past year accelerated plans for legal tender in digital format, in part to keep pace with the explosion of private sector crypto-coins and online payment systems of recent years. The plethora of designs and concepts being bandied about so far make it difficult to get a clear picture of what will emerge.
Column: Central bank digi cash spooking shadow economy to crypto
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Column: Central bank digi cash spooking shadow economy to crypto
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