Many people are wondering how the global economy will evolve during uncertain times like this. Some users expect there to be an increase in research affiliated with central bank digital currencies.
The topic of central bank digital currencies has been around for some time now.
No Real Interest in Central Bank Digital Currencies
All countries exploring this option have high hopes of going cashless in the future.
Some may argue how the novel coronavirus outbreak can be a catalyst in that regard.
There are concerns as to how using cash money can spread the virus to others.
Bacteria associated with COVID-19 can, allegedly, survive up to several days on certain surfaces.
As such, most stores now only accept payment by bank card, credit card, or mobile solutions.
This creates a “perfect storm” to end cash usage once and for all.
Interestingly enough, there has been no further debate regarding central bank digital currencies as of late.
That comes as somewhat of a surprise.
Prior to COVID-19, it was a relatively common topic in several countries around the world.
Even if central bank digital currencies are created, they will not trump cash.
Consumers and businesses want financial freedom, not become more of a slave to a broken legacy system where funny money reigns supreme.