Central Bank Digital Currencies Could Challenge Dollar Dominance, Reshape Global Finance
• Morgan Stanley says central bank digital currencies (CBDCs) may reduce reliance on US dollar and traditional payments • CBDCs could create new standard for cross-border payments, diminishing dollar's dominance • CBDCs enable innovation like smart contracts and programmable money • Dollar-pegged stablecoins will have profound impact, potentially reinforcing dollar as dominant currency • Understanding dynamics between fiat, crypto, stablecoins crucial for future of global finance