New Money Review podcast
Digital currency—a central banker’s view
This year’s coronavirus pandemic has accelerated plans for the introduction of central bank digital currencies (CBDC)—a mobile-ready replacement for our state-issued banknotes and coins.
In the latest episode of the New Money Review podcast, Aleksi Grym, head of digitalisation at the Bank of Finland, shares a central banker’s view on CBDC, the accelerating shift to online commerce and the growing role of big tech firms in money.
Listen to the 30-minute podcast to hear more about:
- The digitalisation of payments
- Why demand for cash is increasing at the same time
- Finland’s past experiment with state digital money
- Where to strike the public/private balance in the provision of payment services
- Why the costs of cross-border payments remain stubbornly high
- How big tech firms’ role in payments is certain to increase further
- Why bitcoin is already challenging regulated payment networks
- Should there be transaction privacy in digital money?
- Could state payment services compete by offering better data protection?