About the lecture: People spend a good portion of their days on the internet. According to a recent survey, an average user spends 6 hours and 31 minutes per day on the internet. The internet has become the dominant information transfer tool. With the advent of digital currency, it has been evolving into a tool for value transfer. In April 2021, The People’s Bank of China began public testing digital renminbi as the world’s first central bank digital currency (CBDC). In June, Bitcoin became legal tender in El Salvador. In September, Twitter launched a tipping feature that allows followers to send money to their influencers via the Bitcoin network. How does the advent of digital currency affect our lives? What are the benefits of digital currencies? What are the significant challenges for the monetary policymakers?
