The Download April 12, 2022: The future of money, and restyling the metaverse

We're on the cusp of a giant upheaval to the ways we pay for things. Cash is on the way out, and the digital technologies set to replace it could transform the very nature of money. Today, central-bank money serves at once as a unit of account, a medium of exchange, and a store of value. But newer technologies, including cryptocurrencies, could separate those functions out. That shift could weaken the dominance of central banks and set off another wave of currency competition, one that could have lasting consequences for many countries.