Iconoclasts of various stripes are drawn to private cryptocurrencies like bitcoin in the hope that their proliferation will undermine the importance and power of governments and central banks. But with the prevalence of e-transactions, public authorities are increasingly considering digital currencies of their own. Financial journalists Dave Michaels and Paul Vigna report that these new forms of cash are not only likely to subvert private cryptocurrencies, but they may also challenge the global dominance of the US dollar and set off digital currency wars.
About the Authors
Dave Michaels and Paul Vigna are reporters for The Wall Street Journal.