Podcast: The Future of Monetary System?

Wednesday, 30 August 2023 12:29

In the ever-evolving world of financial services, Central Bank Digital Currencies emerged as a potential game-changer. While cryptocurrencies have gained popularity over the years, Central Bank Digital Currencies potentially combine the benefits of digital currencies with the stability and control of central banks. What are the expectations and how far are the discussions on Central Bank Digital Currencies across the world? In a recent episode of Talking Economics, we took a closer look at digital currencies with Branislav Saxa.

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“Motivations in introducing CBDS are different in different countries. One of the strongest motivations is financial inclusion. Slightly related to this is also the cost of cash distribution. In EU or US, the motivation is payment resilience,” Branislav explained. In EU, the European Commission recently published a legislation proposal on digital Euro. If it is introduced, they expect two forms of central bank currency to exist – CBDS and cash.

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Branislav Saxa is a CERGE-EI PhD alumnus, Principal Analyst, and Head of Monetary Analyses and Monetary Policy Transmission Team at the Czech National Bank. Since 2013, he has been lecturing at CERGE-EI’s Master’s in Applied Economics and UPCES Study Abroad Program.

Author: Katarína Stehlíková, Lenka Miklanková
Photo: CERGE-EI, Shutterstock

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