Today Singapore’s DBS Bank published a report about digital currencies both pubic and private. The report states that “private payments and private currencies were both seen initially with a degree of dismissive pessimism by central bankers in the past decade; not anymore.”
The paper reviews central bank digital currencies (CBDC), payments, cryptocurrencies and the various roles, including exchanges, derivatives and custodians.
Public and private currencies are here to stay, says the bank. At the same time, physical cash, while declining, is not going away. Nor are sovereign rights over money.
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