No, debt based currency remains alive and well

This month the International Monetary Fund (IMF) released a report on global monetary policy in the digital age which explains that “crypto assets may one day reduce demand for central bank money.” The IMF study was written after an IMF staff discussion that details that cryptocurrencies could someday lower the demand for fiat currencies by creating a shift from “credit money to commodity money.”

The IMF is under the usual delusion that only central banking can issues debt base money.  No, we can do currency issuance via S&L or we can even do central bank currency issuance, all done via the market making mechanism, which we automate in Fintech.