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23.11 - 19:47
Do crypto, CBDCs, stablecoins together spell ‘demise of cash’
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ambcrypto.comThe Covid-19 pandemic had far-reaching effects on not only the global psyche but also the economy and how business is conducted. One important aspect of this has been the slow disappearance of cash, as more people start relying on digital payments in an increasingly distancing world.
Along with the growth of contact-less payments, another trend playing out has been the mainstream acceptance of fiat alternatives like cryptocurrencies, which are likely to stay for long, according to economist Eswar Prasad.
Talking to CNBC, Prasad noted,
“For many consumers and businesses that made the switch to digital payments, there is probably no going back, even if the pandemic-related concerns about the tactile nature of cash were to recede.”
Instead, he
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