THE FUTURE OF MONEY By Rolando Polanco Digital money has been in the process of development for decades now. New technologies aim to democratize finance and expand access to financial products and services. One of the main objectives is to substantially reduce instant payments, both national and international. However, not all forms of digital money will prove viable. Cryptocurrencies like Bitcoin have not thrived as money. While they are actively traded and subject to much speculation, their prices are decoupled from any underlying economic value. Stablecoins are designed to moderate volatility, but many have proven to be anything but stable and depend on the quality of the reserve assets that support them. The KEY is REGULATION. IMF advocates the adoption of global rules to impose order in markets and create a safe space for innovation. Meanwhile, central banks are considering their digital currencies. The head of the Bank for International Settlements, AgustÃn Carstens, ...