Central Bank Digital Currency: The birth of a fintech arms race?

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We have heard it time and time again during the pandemic: digitalisation is accelerating. But while this change has been dramatic in a whole variety of industry sectors, in the financial sector the change could in fact be as profound as changing the form of currency itself: so-called Central Bank Digital Currency (CBDC).   CBDC is a digital, electronic form of central bank money; effectively, a digital form of cash.   There are maybe two starting points for this transformation. The first is the emergence of cryptocurrency. We have all heard of Bitcoin,perhaps the most well-known digital currency, but there are rafts of alternative cryptocurrencies available online…

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