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Article | 22 March 2021 | ESG
By Stéphane Déo, Head of Markets Strategy at Ostrum Asset Management
Digital currencies have moved from the fringes to the mainstream. A decade ago, few outside specialist circles even knew they existed. Now, they are at the heart of the policy plans of the world’s biggest institutions – both public and private.
As technology and finance grow increasingly intertwined, how will new forms of money shake up the global economy? And what opportunities will they create along the way?Stéphane Déo, Head of Markets Strategy at Ostrum Asset Management
• Bitcoin is well-known as a speculative instrument – but as a currency slow, hard to scale, and is environmentally damaging
• The debate around cryptocurrencies has opened a path for new thinking about how technology can deliver new ways of story and sharing value
• Central Bank Digital Currencies build on some of the ideas of cryptocurrencies but retain a central authority to maintain trust in the system
• CBDCs could potentially radically shake up monetary systems around the world
• Private currencies like Facebook’s Libra project have yet to take off – but they do point the way to a future where government-issued money is not the only currency in day-to-day use
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