Global central banks are struggling to keep up with the Bitcoin trend

By in

According to the Bank for International Settlements, the world’s central banks may have to consider creating their own virtual currencies someday. Especially in countries such as Sweden, where cash usage is rapidly declining.

One option has been suggested for central banks to have a currency available to the public, where only the central bank can issue units that would be exchangeable with cash and reserves. These do not come without risks; there might be more instances of bank runs and commercial lenders could face a shortage of deposits.