Question

Refer to the article “The Future of Money” in your Money, Money, Money magazine for a complete version of this text. How does the author best support the point that there are advantages to using digital currency?

A. By giving opinions about benefits of using cryptocurrency and problems with using cash and credit
B. By describing ways that it can be safer and easier to use than traditional money
C. By explaining that digital transactions are fastest because they are handled by computers

Answer 1

Poland (22nd November 1996), Korea (12th December 1996) and the Slovak Republic (14th December 2000). The Commission of the European Communities takes part in the work of the OECD (Article 13 of the OECD Convention).
Publié en français sous le titre :
L’avenir de l’argent
© OECD 2002
Permission to reproduce a portion of this work for non-commercial purposes or classroom use should be obtained through the Centre français d’exploitation du droit de copie (CFC), 20, rue des Grands-Augustins, 75006 Paris, France, tel. (33-1) 44 07 47 70, fax (33-1) 46 34 67 19, for every country except the United States. In the United States permission should be obtained through the Copyright Clearance Center, Customer Service, (508)750-8400, 222 Rosewood Drive, Danvers, MA 01923 USA, or CCC Online: www.copyright.com. All other applications for permission to reproduce or translate all or part of this book should be made to OECD Publications, 2, rue André-Pascal, 75775 Paris Cedex 16, France.

Foreword
Looking to the next few decades, technological advances combined with fairly dramatic economic and social changes could create conditions for the emergence of new, virtual forms of money and credit. On the positive side these digital forms of money could help to create more efficient and more global economies and societies. On the negative side tomorrow’s new forms of money could make it easier to engage in anti-competitive behaviour; exacerbate exclusion and inequality; foster economic volatility; facilitate criminal activity; and even undermine the effectiveness of macroeconomic policy.
To examine these issues and advance the dialogue among high-ranking gov- ernment officials, business leaders and academics, an OECD Forum for the Future conference was held in Luxembourg on 11-13 July 2001. The conference had two primary aims: first, to explore the interrelationship between new forms of money and technological, economic and social change; and second, to consider the impli- cations for leadership in the public and private sectors.
The conference was organised around three sessions. The first set the stage by looking back to historic developments, and forward to the technologies that could influence future forms of money. The second examined how interactions over the next few decades between new forms of money and economic and social changes could give rise to a wide range of new opportunities and risks. Finally, the third considered the ways in which public and private sector decision makers might encourage synergy between new forms of money and technological, economic and social dynamism.
The conference was opened on 11th July in the “Hémicycle européen” of the Kirchberg Conference Centre by Ms Lydie Polfer, Vice Prime Minister and Minister of Foreign Affairs and External Trade of Luxembourg; introductions to the theme of the conference were given by Mr Donald J. Johnston, Secretary-General of the OECD, and by Mr Luc Frieden, Luxembourg’s Minister of Treasury and Budget. All three speeches delivered on this occasion are reprinted in this volume.
The opening event was attended by several hundred people from various professional walks of life – government officials, bankers, other financial experts,
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© OECD 2002

The Future of Money
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economists, consultants, researchers, university teachers, entrepreneurs, journalists, and many more – from all over the world.
The conference benefited from special sponsorship by the Luxembourg Gov- ernment, the Luxembourg Bankers' Association (ABBL) and the Luxembourg Fed- eration of the Professionals of the Financial Sector (PROFIL). Additional financial support was provided by numerous Asian, European and North American partners of the OECD Forum for the Future.
This publication brings together the papers presented at the meeting. It also includes an introduction prepared by the Secretariat. As with all previous Forum for the Future publications, this introduction not only endeavours to provide an overview of the main issues at stake and to reflect the richness of the very lively debate that took place; it also attempts to further advance the thinking on the subject in hand, inspired by the fruitful discussions at the meeting. The book is published on the responsibility of the Secretary-General of the OECD.

Answer 2

To support the point that there are advantages to using digital currency, the author may use various arguments. However, among the options you provided, the best way to support this point is option B, by describing ways that digital currency can be safer and easier to use than traditional money.

For example, the author may explain that digital currency transactions can be faster, more secure, and more cost-effective than traditional money transfers. Additionally, digital currencies can allow for more privacy and anonymity in transactions, which can be beneficial for individuals who value their financial privacy. The author may also point out that digital currencies are not subject to the same geographic and political limitations as traditional currencies, making them more accessible to people in countries with unstable or restrictive monetary systems.

Overall, the author can use a combination of arguments to support the advantages of digital currency, including ease of use, security, privacy, accessibility, and cost-effectiveness.

I Hope This Helps!