The Future of Money

Among the many changes the pandemic has wrought on society, one very clear one is a hastening of the demise of cash. Notes and coin are used far less than 2 years ago, and the trend to a cashless society will only continue, with a range of electronic and technology-based payment methods jostling for space in consumers’ wallets. What does this plethora of payment options imply, and does it pose any threat to central banks and their role in the payment system?

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