Bitcoin, Central Bank Digital Currency and the Loss of Money Value(s)

Abstract

Over recent decades, especially since the 2007–08 global financial crisis, the world has experienced a rapid shift toward the adoption of digital payment methods. This trend has been driven by the rise of cryptocurrencies and introduction of central bank digital currencies (CBDCs), which are accelerating the move to a cashless society. This article explores the socio-cultural and geopolitical values of cash, often overlooked in the transition to digital currencies such as bitcoin and CBDCs. Using a historical lens, we analyze the role of cash in shaping culture, history, and geopolitics and propose policy measures to integrate these values into the design of digital currencies.