Digital currencies and the challenge of using them off-line

The internet has revolutionised payments ushering in on-line banking and payments but, in turn, the reliance on constant connectivity creates vulnerabilities. Unlike the digital world we have always envisioned (where every or most humans are on-line), the reality is far from this. 2.3billion people (one third) of the world’s citizens do not have access to the internet and, according to the World Bank, 1.4billion people globally remain unbanked. In addition to this, the internet outages and the sheer volume of digital assets are challenges that Web3 faces on a day-to-day basis. Realistically, a hybrid world is far easier, but a variety of different types of connectivity need to be built for digital assets to be accessible on a worldwide basis. So, could the future involve solutions that allow off-line access to these digital assets whereby freeing them from the constraints of the on-line world? Beju Shah, Head of the BIS (Bank for International Settlements) Innovation Hub Nordic Centre…