Private cryptocurrency has been around for 15 years. Institutional acceptance is here. Movement towards public, central bank-issued digital currencies (CBDCs), on the other hand, is proving more deliberate by design. The demand for safe, digital currencies is growing and the gains from efficiency look significant. But the accompanying risks are under-discussed. We fix that this week and speak with Antoinette Schoar, our academic partner and Professor of Finance at MIT’s Sloan School of Management. Antoinette has long tracked trends crypto markets and offers a thoughtful approach to the issue and adoption of CBDCs in the coming years. See omnystudio.com/listener for privacy information.