MONEY and TECHNOLOGY

 

Money is about to enter a new era of competition

Digital technology is poised to change our relationship with money and, for some countries, the ability to manage their economies.

 

Quote from above:

" ..... What finally, decisively ended this competition was the emergence of central banks, which were given the exclusive privilege of issuing legal currency and tasked with maintaining its stability. This shift happened quite early in Sweden; the world’s oldest central bank, the Riksbank, was established there in the 17th century. In China, competition closed with the founding of the People’s Bank of China in 1948, shortly before the formal creation of the People’s Republic of China. Since the central banks stepped in, competition has been mostly international, with the relative value of currencies depending on the reputation and stability of the central banks issuing them.  "

 

NOTE: I assumed from the above title that they were going to talk about the emergence of all the digital currencies....