Digital currency could be useful as cash transactions dwindle in some countries ...
FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau delivers a speech to open a conference entitled"Bretton Woods: 75 years later" in Paris, France, July 16, 2019. REUTERS/Philippe Wojazer
Spurred by the rise of cryptocurrencies and Facebook’s plans to launch its Libra currency, central banks worldwide are looking into the possibility of issuing digital money to prevent the loss of state control over money. “In some northern European countries, notably Sweden and the Netherlands, the use of bank notes is falling extremely quickly and they are wondering whether we need to give citizens the right to digital money that is no longer a physical bank note but which has the same quality, notably the security of a central bank,” he told France Inter radio.
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