"A layperson's guide to the way in which digital currencies may evolve over the coming decades and what this means for government-issued currency. This is the issue that will confront policy makers. Richard Holden integrates a currently quite disparate and technical literature to translate that research into what it all is likely to mean for the real world."--Joshua Gans, Professor of Strategic Management, University of Toronto, and author of The Pandemic Information Gap: The Brutal Economics of COVID-19 "Holden has an uncanny knack for writing about complex topics in a lucid, understandable way. He uncovers the reasons behind the recent spate of banking crises and explains where banking is likely to be headed in the era of digitalization. An edifying read for lay and expert alike."--Bengt Holmstrom, Massachusetts Institute of Technology, 2016 Nobel Laureate in Economics