The next shape of money: From banknotes to blockchain-based digital currency

Central banks are considering issuing their own digital currency, using distributed ledger technology. Is this a good move? How is this different from bitcoin and
other cryptocurrencies issued by private institutions?

New: Gift this subscriber-only story to your friends and family

I would contend that within a decade, many of us will routinely deal in digital currencies, given the strength and intensity of the economic forces unleashed by digital technologies.

Money, a medium of exchange, was a necessity-driven human invention long before the advent of written history. Imagine how inconvenient it would have been if you still had to barter for my horse with your grains.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.