Season 1 · Episode 351
Why do central banks want digital currencies?
Central banks are all looking at digital currencies. It’s obviously not to take on crypto, unless they are very naïve. So what’s their end game?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
May 17, 202333m 30s
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Show Notes
Central banks seem to be in a rush to offer digital currencies, but why? Conspiracy theories point to China, and visions of private bank accounts monitored by the state to counter the hidden transactions of cryptocurrencies. But the proposition for crypto is very different. Central banks aren’t offering a new investment opportunity, they are talking about a transactional currency. But how does that differ to our sovereign currencies for which most money is stored in a digital form. The case for consumers is far from compelling, but Phil and Steve hit upon what could be the real motivation. You have to wait to the end of the podcast to get there.
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