4/6  BIS central bankers' speeches  I believe that central bank money—the bank notes you have in your pocket—will always provide an important public good: an individual’s sovereign right to make payments with an instrument that is universally accepted and final. A private digital currency cannot deliver that, regardless of how widespread its use may become.
I refer, of course, to the age-old problem of defining what we mean by a unit of output and, by extension, what we mean by price. The dollar value of sales or GDP depends, of course, on the specific accounting rules chosen. And while value in that context is uniquely defined, the split between volume change and price change is always approximate.