Patomak Vice President and Chief of Staff Robert Greene provides commentary for a Wall Street Journal article about the close watch policymakers are keeping on China’s progression on its plans to replace cash with digitized money. The reporter’s story includes Greene’s analysis of some of the complexities and political realities involved:
“Formally launching a digital currency will require a number of complex political choices, including the delineation of specific roles for banks and the app-payment providers. ‘Until these difficult decisions are made, you can’t have large-scale deployment,’ said Robert Greene, a nonresident scholar at the Carnegie Endowment for International Peace in Washington.”
He added that with the U.S. and many other world powers yet to say how they might digitize their currencies, Beijing might feel less pressure to make those decisions hastily.
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