Introduction

This chapter outlines the backdrop of recurring financial crises and growing economic disparity, exemplified by major bank collapses in 2008 and 2023. It discusses the challenges in financial safeguards, increasing money laundering, declining cash usage, and the rise of costly private payment solutions. The book then shifts to explore the emergence of digital currencies, especially post-Bitcoin, and the global interest in Central Bank Digital Currencies (CBDCs) as a response. Aimed at a broad audience, the book simplifies complex topics like cryptocurrencies and CBDCs, intending to provide comprehensive insights into their potential to address these contemporary financial issues.