The future of money is a topic often discussed under a multitude of angles: historical, economic, institutional, legal, of monetary policy, social, political. Last week, an interesting conference – “The Future of Money” – was held in Athens by Nomiki Bibliothiki along with Economia Publishing.
The discussion ranged from the dawn of history, when silver coinage in ancient Athens served as privately-issue tender (Nikos Kyriazis), to the current debate about seignorage income under the rather unique conditions of the Euro (Christos Gortsos) or to proposals of equity-based, parallel currencies (Uli Kortsch). Aspects of regulatory practice (Konstantina Kottaridi, Chr. Gortsos) and of the challenges posed by the control of money and credit in contemporary democracies (George Bitros) were also discussed.
The Governor of the Bank of Greece Yiannis Stournaras addressed head-on the challenges arising from the ongoing debate about the spread of digital currencies. In a sector where trust plays the central role, the use of DLT/distributed ledger technologies has brought the potential of such currencies to the fore, with even CBDCs/central bank digital currencies being debated as a potential pillar of the future edifice of money.