A simple explanation of the economy of tomorrow—and why every economist needs to update their knowledge, because what we study and teach today has nothing to do with the economy of the past.
“Fiat money will gradually disappear… and be replaced by digital currency.”
This is not simply a shift from cash to electronic payments, but a profound transformation of money itself: from paper and metal to digital currency, which can be issued, exchanged, and settled through digital infrastructure.
This marks the beginning of a new phase in the evolution of the financial system:
Cash, then digital currency, then tokenized money.
In other words, from cash to digital currency, and then to tokenized money, which can circulate on programmable digital networks and integrate with digital assets, contracts, and identities.
- This new world does more than change how we pay; it also rebuilds the monetary infrastructure itself.
It is worth noting that Dr. Fakhry El-Din El-Feky is Chair of the Planning and Budget Committee in the Egyptian House of Representatives, a tenured professor at Cairo University's Faculty of Economics and Political Science, and has previously served on the Board of Directors of the Central Bank of Egypt and as Deputy Executive Director at the International Monetary Fund.
Therefore, his analysis of the gradual transition from fiat money to digital currency draws on extensive economic and institutional experience.
#DigitalCurrency #Tokenization #Blockchain #CBDC #DigitalFinance
@Web3 Plus 官方帳號 $BTC $BNB
“Fiat money will gradually disappear… and be replaced by digital currency.”
This is not simply a shift from cash to electronic payments, but a profound transformation of money itself: from paper and metal to digital currency, which can be issued, exchanged, and settled through digital infrastructure.
This marks the beginning of a new phase in the evolution of the financial system:
Cash, then digital currency, then tokenized money.
In other words, from cash to digital currency, and then to tokenized money, which can circulate on programmable digital networks and integrate with digital assets, contracts, and identities.
- This new world does more than change how we pay; it also rebuilds the monetary infrastructure itself.
It is worth noting that Dr. Fakhry El-Din El-Feky is Chair of the Planning and Budget Committee in the Egyptian House of Representatives, a tenured professor at Cairo University's Faculty of Economics and Political Science, and has previously served on the Board of Directors of the Central Bank of Egypt and as Deputy Executive Director at the International Monetary Fund.
Therefore, his analysis of the gradual transition from fiat money to digital currency draws on extensive economic and institutional experience.
#DigitalCurrency #Tokenization #Blockchain #CBDC #DigitalFinance
@Web3 Plus 官方帳號 $BTC $BNB
