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The Inquiry
Can digital currency replace the cash system?
The Inquiry
Dec 1, 2022

We use digital currency every day whenever we use a credit card, bank online or shop for goods on the internet. We can use our phones as money and transfer cash to family and friends simply by using numbers.

It’s not exactly cash we are using, but a digital representation of that cash. Some digital currencies, such as cryptocurrency, even exist outside of the traditional banking system. Recently the cryptocurrency trading exchange FTX collapsed leaving creditors owed billions of dollars. There’s not much chance any of that money can be returned because it wasn’t actually linked to a cash system.

If so many of our transactions and speculations are now digital, can we ditch the cash altogether?

This week on The Inquiry we’re asking Can digital currency replace the cash system?

Presenter: Tanya Beckett Producer: Louise Clarke-Rowbotham Researcher: John Cossee Editor: Tara McDermott Technical producer: Craig Boardman Production support: Jacqui Johnson

(Image: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies: Dado Ruvic/Reuters)

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Is it time to scrap the Commonwealth Games?

For the second time in 12 years Glasgow is preparing to host the Commonwealth Games after Australia’s Victoria state pulled out because of increased costs. Victoria’s withdrawal raised questions about whether the 2026 games would go ahead before Glasgow agreed to step in.

Staging a sporting mega-event is expensive and governments face increasing scrutiny over public spending. Victoria’s decision raised wider questions about affordability for potential hosts. At the same time, critics question the Games’ political relevance, given its origins in Britain’s colonial past.

The Commonwealth Games Federation says the event can be delivered in a more sustainable way and argues that it brings cultural and economic benefits to host cities, but recent editions have run into significant costs and budget pressures.

This week on The Inquiry, Tanya Beckett asks ‘Is it time to scrap the Commonwealth Games?’

Contributors: Dr Stuart Whigham, senior lecturer in sport, coaching and physical education at Oxford Brookes University, UK Dr Matthew McDowell, lecturer in sport policy, management, and international development at the University of Edinburgh, UK Dr Verity Postlethwaite, lecturer in strategic event management at Loughborough University, UK Professor Gayle McPherson, associate dean for research at the University of the West of Scotland, and director of legacy and community engagement for Commonwealth Games Scotland, UK

Presenter: Tanya Beckett Producer: Matt Toulson Researcher: Evie Yabsley Editor: Tom Bigwood Technical Producer: Craig Boardman Production Management: Phoebe Lomas and Liam Morrey

(Photo: 2022 Commonwealth Games gold medals. Credit: Adrian Dennis/Getty Images)


23min 58sec




Can digital currency replace the cash system?

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