I disagree. The banks need to steer clear of the (plucked from thin air) emperor's new clothes currency, i.e., bitcoin!

What we need is a return to the gold standard to back our own new bank! As something tangible that you can trust and touch, that goes up in value over the decades, largely in line with the CPI or inflation!

Private banks that continue to screw joe public for all they're worth, can sink or swim or go down, if they predictably, lose our trust!
Alan B.

Vince Hooper says:

"The landscape of finance is shifting, and central banks must rise to the occasion with open minds and a willingness to adapt."

I certainly see the appeal of digital currencies particularly for younger investors.

It's usually younger investors who are looking for something new to use as an investment vehicle. They can make a lot of money quickly and if an investment tanks they have a number of years to recover.

Maybe it wasn't younger investors buying those Trump NFTs, however.

There has always been interference when some investment vehicles get ahead of the big end of town.

In 2008 ASIC froze short selling even though the buyers during a sharp decline tend to be those covering short positions.

The rules around Certificates For Difference have been changed even though investors could use stops to reduce exposure.

It will be interesting to see what happens with crypto currencies.

The author fails to mention the BRICS challenge, with their own rival central banking system & gold backed currencies.

Many nations are lining up to escape from the international banksters & join BRICS.