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Outlook 2021: After Covid-19, we require a new form of finance, Making CBDCs a true and trusted currency

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Outlook 2021: After Covid-19, we require a new form of finance, Making CBDCs a true and trusted currency

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Thursday 24 December 2020 – Vol.11 Ed.52.4

Outlook 2021: New finance needed after Covid-19

By Joseph Ding in New York

The Covid-19 pandemic has revealed fissures in the fabric of economies developed or developing, big or small. The financial industry, thanks to its early and broad adoption of technology and strengthened balance sheets following the 2008 financial crisis, has so far seen relatively few business failures. The contrast between exuberant equity markets and the dire state of the main street economy has brought renewed urgency in calls for social responsibility, sustainable growth and stakeholder capitalism.

Read the full commentary on the website.

Outlook 2021: Making CBDCs a trusted currency

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By Wolfram Seidemann in Munich

The race to issue a digital currency is on. Following the announcement of Libra (now renamed Diem) in 2019, the Covid-19 pandemic has given it fresh momentum and has reinforced the need for a ubiquitous public payment option. Nevertheless, digital currency is more than just another electronic payment method. It took centuries to establish the secure, resilient, universal and trusted basis for consumer payments that is cash. Cash’s reputation must be kept when it becomes digital.

Read the full commentary on the website.

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