1/6  BIS central bankers' speeches  In addition to their social impact, job losses for people with lower incomes present a particular threat to the economy, because around half of those at the bottom of the income scale face liquidity constraints and therefore consume more of their income.2 The labour-intensity of the worst-hit sectors also heightens the risk of hysteresis and “scarring” in the labour market.
Moreover, the similarities with crypto tokens based on distributed ledger technology (DLT) are so striking that some people wonder whether stone money might have inspired the invention of Bitcoin.1 _____________ 1 Fitzpatrick, S. M. and S. McKeon (2020), Banking on Stone Money: Ancient Antecedents to Bitcoin, Eco-  nomic Anthropology 2020, Vol. 7, No 1, pp. 7-21.