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The Bank for International Settlements (BIS) believes central banks will need to figure out whether to issue a digital currency of their own, with the Dutch central bank already creating its own cyrptocurrency for internal use and the US exploring the matter as well.
According to the BIS, one option for central banks might be a currency available to the public, with only the central bank able to issue units that would be directly convertible with cash and reserves. There might be a greater risk of bank runs, however, and commercial lenders might face a shortage of deposits. Another question to be resolved would be the question of privacy.
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