Bank of America’s (BOA) global research team released a report this week on global cryptocurrencies, digital assets and central bank digital currencies (CBDCs). Digital currencies seem inevitable, with distributed ledgers and digital currencies such as CBDC and stablecoins being the natural evolution of today’s currency and payment systems. A CBDC utilizing distributed ledger technology has the potential to revolutionize the global financial system and could be the most important technological advancement in the history of money. The issuance of a CBDC by a central bank seems inevitable. First, they “may increase the efficiency of cross-border payments and transfers.” Additionally, they “may reduce the risk of central banks losing monetary control” and “increase financial inclusion.”