Advancements in cryptocurrency networks are sparking conversations about the potential for Central Bank Digital Currencies, or CBDCs for short. Advocates for CBDCs think they would provide security and unlock more efficient fiscal policy actions. However, opponents believe they would provide a shortcut for government interference and the erosion of privacy.

Today on the show, we'll dive deep into the world of CBDCs and pose the question if countries actually need them at all.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Learn more about sponsor message choices: podcastchoices.com/adchoices

NPR Privacy Policy