, Columnist
The Future of Money Is Digital, But Is It Bitcoin?
Central banks will hold the power as interoperability between national tokens — and private ones — takes priority.
Interoperable digital currencies in your e-wallet may make Bitcoin ATMs like this one in Marseille a quaint relic.
Photographer: Nicolas Tucat/AFP/Getty
This article is for subscribers only.
The idea that much of today’s cash use will shift to digital tokens is neither faddish nor outlandish, as long as you don’t start equating the future of money with Bitcoin.
Sure, governments will borrow some elements of the distributed ledger technology behind private cryptocurrencies, but they will very much want to retain control of what circulates as money in their economies. Some will succeed.