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February 4, 2022 [Hong Sa-hoon's Economic Show] KBS 1Radio FM 97.3MHz Mon-Fri 16:05-16:54 It's called digital currency. Unlike virtual currencies like Bitcoin, it's your own money that you store and use on your computer or smartphone, but it's similar to real currency because it's issued and managed by a central bank like the Bank of Korea. This digital currency has begun to be used in practice at the Beijing Winter Olympics that open today, and our Bank of Korea also recently conducted an experiment to circulate digital currency. Recently, the global investment bank BOA, Bank of America, published a report stating that the introduction of digital currency is inevitable even if the United States tries to reject it, and that the United States will issue a digital dollar as early as 2025. The United States has been reluctant to introduce digital currency, but the analysis is that if the central bank does not do it, private big tech companies like Google, Facebook, and Apple will step in, so they have no choice but to step in. The Bank of Korea also stated that one of the reasons for promoting digital currency is that private companies such as Naver Pay, Kakao Pay, and Samsung Pay are starting to replace existing currencies. Digital currency is heralding another currency reform. Some are even warning that digital currency could destroy the dollar hegemony that has lasted for over a hundred years. We will discuss this today. #Hong Sa-hoon's Economic Show #Hong Sa-hoon #Ahn Yu-hwa