The Future of Money – what I have been reading this week

The Bank for International Settlement published an interesting policy brief on “Covid-19, cash, and the future of payments”. From their takeaways:

“• The Covid-19 pandemic has fanned public concerns that the coronavirus could be transmitted by cash.

• Scientific evidence suggests that the probability of transmission via banknotes is low when compared with other frequently-touched objects, such as credit card terminals or PIN pads….

• ….Looking ahead, developments could speed up the shift toward digital payments. This could open a divide in access to payments instruments, which could negatively impact unbanked and older consumers. The pandemic may amplify calls to defend the role of cash – but also calls for central bank digital currencies.”

Here is the full article:

https://www.bis.org/publ/bisbull03.htm

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