We are only at the beginning of the development of digital currency. The success of bitcoin testifies to this but also the growing interest of central banks in the subject. Eventually, private and public digital currencies will coexist, both competing and complementary, says Christian de Boissieu.

The currency war first evokes competitive devaluations. Another currency war is looming, one that opposes public (or official) currencies and private currencies and whose stakes, eminently political, affect power and sovereignty. Because "money is power" as Roy Harrod said, and not only purchasing power...

The success of bitcoin illustrates the rise of cryptocurrencies, these privately owned digital currencies, with unstable prices for many of them, and without central banks capable of serving as a "lender of last resort" in the event of a blow. Certainly, bitcoin and other cryptocurrencies do not perform all the functions of a complete currency, but they still compete with official currencies for certain uses. The announced arrival of Facebook in 2021 with its Libra currency , renamed Diem, would give a huge boost to the rise of private cryptocurrencies since the American giant has 2.5 billion users!