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Central banks must prove worth of digital currencies
A milestone move by the European Central Bank (ECB) toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have introduced central bank digital currencies (CBDCs). China is trialling a prototype yuan with 200 million users, India is gearing up for a pilot and about 130 countries representing 98 percent of the global economy are exploring digital cash. The ECB’s move on Wednesday to establish a pilot that could lead to a digital currency for the 20 countries that use the common currency, making it the first heavyweight ... (full story)