The field of digital means of payment is at the very beginning of its development. Experts are confident that virtual money will be a priority in the near future. It is possible that they will be in circulation along with fiat currencies.

According to experts, digital means of payment will occupy a niche in the global financial market. In the long term, they are expected to be the undisputed leader among other currencies. At the moment, experts are recording a kind of rally of leading central banks seeking to introduce digital currencies into circulation. The US Federal Reserve, on the other hand, denies active participation in this race. The Fed head, Jerome Powell stressed that quality is more important to the department, and not primacy in this matter.

Powell added that, for the effective functioning of the digital currency, it is necessary to protect it from cyber attacks and any fraudulent manipulations. For the Fed, the impact of the new virtual currency on monetary policy and the country's financial stability is paramount. Preventing financial fraud and maintaining user privacy and security are other key factors.

Moreover, Powell also noted that they are on the verge of making a decision on the issue of the digital dollar. The regulator is currently studying the future prospects of the new currency together with other central banks. The Bank for International Settlements (BIS) is also involved in these operations. According to a survey conducted by BIS in January this year, the lion's share of central banks (80%) have been working on creating virtual currencies since last year. Most regulators (70%) started developing new payment methods two years ago. Experts are confident that by the end of this year, the number of departments involved in this process will grow significantly.

According to analysts, virtual currencies issued by central banks will receive the status of traditional means of payment. However, they will remain only in electronic form, experts emphasize. At the same time, their development and further control will be carried out centrally.

Experts of the cryptocurrency market pay attention to the fact that digital money should be distinguished from decentralized cryptocurrencies, such as bitcoin. Note that the current use of BTC in different countries of the world differs from the initial one when the main digital asset just entered circulation. Currently, the first cryptocurrency is on the way to gaining legal status and some control from supervisory agencies. This greatly worries crypto enthusiasts, but it is difficult for them to influence global financial processes.