In an opinion piece for the Financial Times, Gopinath admits that digital currencies bring about interesting possibilities. Regardless, she doesn’t believe that they have the framework required to perform like the dollar. According to her:
“Advances in payment technologies do not address fundamental issues of what it takes to be a global reserve currency.”
Gopinath further adds that there is not a lot of evidence to support the fact that crypto has done enough to “reduce the expense of moving among currencies.”
An IMF survey conducted last year revealed that most central banks are planning to launch a central bank digital currency (CBDC).