 What Money in 2050Livio Stracca ()
Chapter Chapter 7 in Redefining the Monetary Standard in the Digital Age, 2025, pp 151-160 from Springer Abstract: Abstract This chapter envisions the future of money in 2050, dominated by AI and digitalization. It predicts continued reliance on government-led fiat money as the unit of account, with digital payments dominating the medium of exchange. Bank deposits remain central, but cryptocurrencies, stablecoins, and CBDCs pose potential challenges. Despite the shift towards digital, cash remains crucial for emergencies. The chapter stresses the need for a robust monetary system balancing privacy, security, and speed, acknowledging trade-offs between these features. It discusses the potential of a self-adjusting monetary standard and highlights three trade-offs: privacy versus security and speed, the quality of payment interfaces versus privacy, and the dynamics of competition in digital environments. The chapter underscores the importance of privacy, warning against the erosion of personal freedoms due to data collection. It emphasizes the need for vigilance and stronger privacy protections. Keywords: Artificial Intelligence; Digitalization; Fiat Money; Privacy; Cryptocurrencies (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-89840-2_7 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-89840-2_7 Access Statistics for this chapter More chapters in Springer Books from Springer |
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