LETTER: Decentralising money supply is natural
Central banks should not try to solve a problem they are too challenged to comprehend
Simi Siwisa writes that “one challenge is to figure out how to make different central bank digital currencies interact with one another” (“Countries must work together to regulate and optimise cryptocurrencies”, July 28).
Gravity existed, whether an apple fell on Newton’s head or not! Likewise, the world has always had a common currency; it is called information. It is why decentralising money supply, as cryptocurrencies do, is a natural (if not scientific) thing to do.
Perhaps central banks should come to terms with the fact that they are relics of money’s past, rather than trying to solve a problem they are too challenged to comprehend.
Mpho Tjabane, Johannesburg
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