- There has been a shift toward digital payments during the COVID-19 pandemic.
- There is increasing attention to and development of central bank digital currencies and stablecoins.
- The World Economic Forum’s Digital Currency Governance Consortium is working to help realize the benefits and mitigate the risks of these new forms of digital currencies.
The COVID-19 pandemic and consequent economic crisis have indelibly altered our daily lives. One of the profound changes has been the acceleration in the shift towards digital payments, as customers avoided cash over fears it might spread the virus, and as retailers adapted by moving their activity online.
These challenges provided fertile grounds for exploring new digital forms of payment. How the world coordinates over the treatment of these new, potentially disruptive, technologies will critically shape whether the opportunities they…