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The threat and the promise of digital money

The threat and the promise of digital money

What is the future of money in a digital age? This was the subject of an event at the Peterson Institute for International Economics last week. This seminar was the intellectual high point of my time at the annual meetings of the IMF and World Bank in Washington.

The first answer to that big question is: “It is complicated.” The second is: “It is really important” — especially since Facebook’s Libra project.

This new idea has forced policymakers to think hard — and rightly so. Money is too important to be left to the private sector alone.