Journal Article

The Future of Money and Its Implications for Society, Central Banks, and the International Monetary System

Abstract: This new wave of financial innovations has broad implications for society, banking, and central banking: Digital platforms can ease entry for financial services providers, increase transactional efficiency, and widen access to and participation in the financial system. They could also decrease the use of cash and alter the U.S. dollar's role as today's vehicle currency.

Keywords: money; financial technology;

JEL Classification: E42; E44; E50; E58; E59; G21; G23; G28; G34;

https://doi.org/10.20955/r.105.1-8

Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Review

Publication Date: 2023-01-20

Volume: 105

Issue: 1

Pages: 1-8

Note: This article is based on the Homer Jones Memorial Lecture delivered at the Federal Reserve Bank of St. Louis, October 19, 2022.