Digitalization is shaping the way forward for cash, however conventional central financial institution cash housed in industrial banks will stay dominant, predicts Moody’s in a brand new report. Basically, belief trumps effectivity, it mentioned after reviewing a variety of rising or potential types of cash.
The financial panorama is fragmenting, Moody’s mentioned, however many new fee options assist using industrial financial institution cash. For instance, “We imagine that digital wallets (…) will assist the forex dominance of economic banks so long as financial institution accounts stay their main supply of digital currencies.”
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