[INTERVIEW] Can cryptocurrencies compete with fiat money ? with Christian PFISTER

Can cryptocurrencies compete with fiat money? Are they a threat to the monetary independence of sovereign States? Why are stablecoins a special kind of cryptoasset? Will Central Bank Digital Currencies be part of our everyday life? After his participation to our previous conference entitled “Should money remain in the hands of states? From Bitcoin to Stablecoins and Central Bank Digital Currencies“, the Chair Digital, Governance and Sovereignty, hosted by the School of Public Affairs invited Christian Pfister, Deputy Director General, DG Statistics for the Banque de France (French Central Bank) and lecturer at Sciences Po and Paris I University, to come back and explore with us the links between cryptocurrencies and State-emitted money.

In the future, global stablecoins could be used much more widely. […] Imagine, for example, that a significant part of the population decides to hold its savings and make its purchases using these global stablecoins. The States that are not issuers of the currencies to which those stablecoins are pegged would lose much of their monetary and financial independence.

Christian Pfister, Deputy Director General, DG Statistics for the Banque de France (French Central Bank) and lecturer at Sciences Po and Paris I University