AntiSocial Folgen

There’s been a debate on social media about whether Central Bank Digital Currencies pose a threat to our privacy and some even fear it could give governments power over our spending. Former Bank of England economist Dan Davies explains what a CBDC actually is.

A clip from the European Central Bank, talking about progress towards an electronic version of the euro, has sparked concern on social media. Some suggest new central bank digital currencies (CBDCs) like this - including a digital pound under consideration in the UK - are designed to track our spending, or even restrict it. And there are fears it could lead to the elimination of cash altogether. But others say CBDCs are a recognition of cash’s decline, providing an alternative, and that central banks need to keep up with changing financial technologies. So what exactly is a digital pound, how would people use it, and how different is it to the way we pay for things now?

Where does the phrase come from, and do younger generations have different expectations of the workplace? Dr Kirsteen Grant, Associate Professor of Human Resource Management at Edinburgh Napier University explains.