3. The road to digital currency

Illustration of a glowing three dimensional hexagon becoming pixelated, a quarter, and assorted shapes and lines on a grid.
Illustration: Victoria Ellis/Axios

Governments around the world are taking steps to launch their own versions of digital cash — a global race in which the United States is notably lagging.

Why it matters: Broad issuance of central bank digital currencies (known as CBDCs) could reshape how people and businesses use money, and may even expand access to the financial system.

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