Central bankers new take on digital currency: If you can't beat them, join them. 

According to the WSJ, "In a research paper published on Monday, economists at the Bank of England advocated that central banks issue their own kind of digital currency. Using the U.S. as a case study, they argued it could give a permanent boost to the economy of around 3%, as well as providing policy makers with more effective tools to tame financial booms and busts."

Does anyone actually think central bankers are capable of such a feat? Don't get me wrong, I think it's great serious scholars are taking a close look at digital currency and distributed ledger, however, I cringe when thinking about their ability to hire, develop and deploy such a complex and critically important system. 

Do you think they have the recruiting power similar to companies in Silicon Valley? Who do you know that would leave their current venture to work for a central bank?

What does the digital world look like in a system where each sovereign has its own form of digital currency? Does a one currency system make the most sense? Do more options foster competition and improve the overall experience for consumers?

Cheers,

Robert