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What Money in 2050

In: Redefining the Monetary Standard in the Digital Age

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  • Livio Stracca

    (European Central Bank)

Abstract

This chapter envisions the future of money in 2050, dominated by AI and digitalization. It predicts continued reliance on government-led fiat money as the unit of account, with digital payments dominating the medium of exchange. Bank deposits remain central, but cryptocurrencies, stablecoins, and CBDCs pose potential challenges. Despite the shift towards digital, cash remains crucial for emergencies. The chapter stresses the need for a robust monetary system balancing privacy, security, and speed, acknowledging trade-offs between these features. It discusses the potential of a self-adjusting monetary standard and highlights three trade-offs: privacy versus security and speed, the quality of payment interfaces versus privacy, and the dynamics of competition in digital environments. The chapter underscores the importance of privacy, warning against the erosion of personal freedoms due to data collection. It emphasizes the need for vigilance and stronger privacy protections.

Suggested Citation

  • Livio Stracca, 2025. "What Money in 2050," Springer Books, in: Redefining the Monetary Standard in the Digital Age, chapter 0, pages 151-160, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-89840-2_7
    DOI: 10.1007/978-3-031-89840-2_7
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