Summary List Placement
- Central banks need to issue digital currencies as cash will become outdated, a UBS chief economist said.
- These digital currencies won’t operate like cryptocurrencies and will have no wild swings in value, Paul Donovan said.
- The supply of an officially backed coin depends on a central bank’s authority to regulate the currency’s spending power.
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Central banks will soon need to issue digital currencies as the use of cash slowly becomes irrelevant, according to UBS chief economist Paul Donovan.
“Central bank digital currencies details ⇒
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