The use of cash will disappear very fast: Author Eswar Prasad

The rise of these central bank digital currencies, or CBDCs, essentially virtual versions of currencies backed by the state, will be a major push towards hastening the demise of cash, says Eswar S Prasad, the Tolani senior professor of trade policy and professor of economics at Cornell University. It’s one of the several revolutionary changes under way that Prasad delves into lucidly in his new book, The Future of Money: How the Digital Revolution is Transforming Currencies and Finance.

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