The Importance of Public Service in Digital Currency Systems

I don't think it's necessarily one great big global currency. I think it's several different central bank issued or central bank endorsed digital currencies where the technology probably comes from Silicon Valley, but the actual issuer of the currency is a central bank. The idea that the government would license effectively a technology that is produced by Google or by Microsoft in my view is very deeply flawed. At the end of the day what we're talking about is a system that needs to be built within this public sphere in an environment of public service - which is a long standing principle of democratic governments.