Central Bank Digital Currencies are Coming

Michael Lebowitz

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Before you read my thoughts on central bank digital currencies (CBDCs), pull out your wallet and count the cash in it. Add any cash under a mattress or in a bank vault to that amount. That total, be it $12 or a couple of thousand dollars, is the only cash you have.

The bank holding your savings or checking account does not have a pile of cash in a large vault with your name on it. It resides in the ethernet as a series of digital ones and zeroes.