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The Coming Currency War
Article

The Coming Currency War

Digital Money vs. the Dollar

Dave Michaels and Paul Vigna
The Wall Street Journal, 2019
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8

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Iconoclasts of various stripes are drawn to private cryptocurrencies like bitcoin in the hope that their proliferation will undermine the importance and power of governments and central banks. But with the prevalence of e-transactions, public authorities are increasingly considering digital currencies of their own. Financial journalists Dave Michaels and Paul Vigna report that these new forms of cash are not only likely to subvert private cryptocurrencies, but they may also challenge the global dominance of the US dollar and set off digital currency wars. 

Take-Aways

  • Central banks and governments are beginning to embrace the idea of digitized national currencies.
  • The introduction of digital money might cause currency wars.
  • Not everyone is in favor of a digital currency that replaces the US dollar.

About the Authors

Dave Michaels and Paul Vigna are reporters for The Wall Street Journal.

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    B. L. 5 years ago
    Digital currency is a trend and certainly governments need to involve and manage its publication and use in order to protect the financial safety of both the people and the country.