He Dong, deputy director of the Monetary and Capital Markets Department of the International Monetary Fund, analyzed the future development of digital currency and fiat currency. He pointed out that crypto-currency assets might reduce the demand for central bank currency. Crypto-currency’s anonymity, speed and divisibility are better than fiat currency. For example: Once Bitcoin’s scalability is resolved, Bitcoin will be available for daily goods and services payments. He also stated that the government should strengthen supervision for digital currencies, but banks should explore ways to maintain competition with crypto-currencies. For example, they may consider issuing their own digital tokens to supplement physical cash and bank reserves.
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