Central Bank Digital Currencies – Reinventing The Wheel?

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Cryptocurrencies have moved into official thinking, not just in terms of regulating them, but given their (price) success, are being emulated by central banks. Is this wise, or are the central banks just reinventing the wheel?

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The rise of cryptocurrencies e.g. Bitcoin in terms of prices has not only caught the imagination of the investing public, but also of central banks. They have quietly laboured to see if they could do it, and a small number have actually launched. Interestingly, none of the major economies have… yet? Still, many of the parameters involved seemed to imply that it is like creating another national currency. Is it?

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