I am a bit sceptic about the role of crypto currencies taking over the role of money. CBDC are already the answer to it. Crypto currencies are not very transparent how they are created and how they fulfill the basic 3 functions of money. Besides the fluctuate a lot in terms of currencies like dollar and euro.

For detail please refer the following link:

https://www.pmi.org/learning/library/2021-megatrends-signpost-report-12906

https://www.frbsf.org/our-district/about/sf-fed-blog/four-lessons-for-future-central-banking/

https://www.frbsf.org/banking/fintech/events/2020/november/central-bank-of-future/

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There will be definitely no absolute control of money by central banking authorities, no death of inflation (deflation) and no disappearance of money laundering.

Any economic system is bound to the laws of entropy and marginality.

Economic macro-prudence is required to 'stabilize' the nature of unstable (human-made) systems.

The link between money and conjuncture is still not identified, in terms of scientific methodology, but it is surely in deep connection to the energy efficiency of an economic system, in terms of sustainability (macro-ecology).

I do personally think that the collapse (implosion) of the state commanded economies reflects this socio-physical nexus between money (credit, interest), energy efficiency and effective market exchange very well.

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https://www.researchgate.net/publication/337472519_Money_To_Capital

https://www.researchgate.net/publication/337289702_KALECKI's_PARADOXICAL_ODYSSEY

https://www.researchgate.net/publication/280571850_THE_ECO-ENERGETIC_POINT_OF_VIEW

Dear Professor Jan Jansen, I share your position on cryptocurrencies and even in another discussion thread we agreed that they are not currencies as they do not function as money. By writing this question, I was going to get to know the thoughts of scientists on the most important technologies that could change the world after the pandemic, for example digital currencies and digital money control (including consumer spending) fully subordinate to central banks, because the monetary authorities have been working on such currencies for several years using the crypto market as a testing ground for modern blockchain technologies, encryption and financial data transfer. Personally, I think that cryptocurrencies will be banned in all large financial markets or so restrictive regulations in terms of their production and transactions will be introduced that it will not be profitable to have cryptocurrencies. Best Regards

thank you prof. Sudhir Yadav for link to a very interesting report on megatrend research

Thank you Mr. Stephen I. Ternyik for the link to the frbsf conference. I already know the arrangements of "the Central Bank of the Future Conference" I would like to get to know your thoughts on this topic of discussion more. Best Regards

The dominating mega-tech-know-logical trend is exponential knowledge automation, which is reinforced by the pandemic scenario, dear Dariusz Tomasz Grala i.e. a capitalist planned economy is in the full making or emergence.

'Underground' economic activities, like money laundering and 'anarchic' offshoring remain alternative global corridors for rentiers, profiteers and also criminal gangs. I share the view of MI. Tugan-Baranovsky, Kondratieff and Kalecki that human-made systems cannot die a natural death (as Marx opined), because human wish, will and thought play an eminent role in economic life (destiny).

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https://www.bis.org/publ/qtrpdf/r_qt2003e.htm

https://www.ledgerinsights.com/china-national-blockchain-infrastructure/

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As exponentiality (in our case: of knowledge automation and the production function) is principally unstable, it adds to the entropy of an economic system; the same is true for marginality. Cryptos will add fuel on fire as such exchange systems are not intended to include the functional information of energy efficiency. This is an evolutionary economic process (with a coming bifurcation) and no one can know, how this social battle between central money and cryptos will end. Money, after all, seems to be and remain the only unique social metric for human value exchange as first evolved in Sumer, but with clear physical ratio (silver/barley).

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https://www.researchgate.net/publication/320299559_The_'Babylonian'_Accounts_of_Society

https://www.researchgate.net/publication/314687329_The_Sisyphean_Economy

Dariusz Tomasz Grala

Dear Professor,

Thank you for the interesting topic of discussion.

The post COVID economy may be expected to dominate the world by the usage of AI. This technology is easy to use. Even non-technical people can use it. It is cheap and easily accessible.

One trend that I expect to dominate the post COVID economy is spending by the governments for infrastructure, particularly medical infrastructure in developing economies.

Best regards,

Anamitra.

Dear Dariusz Tomasz Grala,

The SARS-CoV-2 (Covid-19) coronavirus pandemic has increased the digitization of economic processes. In the post-covid era, the scale of implementation of the technologies of the present fourth technological revolution, ICT and Industry 4.0 information technologies into economic processes, the development of internet transaction platforms, the development of internet business, internet technological startups, etc., will continue to grow. over the course of several consecutive frames. The first concepts and considerations on this subject appeared as early as the 1990s, ie during the first phase of intensive development of electronic banking, then internet banking and internet companies, dotcoms. It was then that futurological concepts appeared suggesting that at the beginning of the first decade of the 21st century, all banking was to be transformed into electronic online banking, which was to result in the withdrawal of cash from circulation. This, however, did not happen. The 2008 global financial crisis increased the importance of both e-money and cash. At the moment, the issue of withdrawing cash from circulation is not considered as something that would objectively occur in the next few years. At least it will not happen on a global scale. In some countries, attempts have been made to implement such a plan over the past few years, but these plans have been abandoned, at least at present. Inflation will increase due to the financing of a significant part of anti-crisis programs to stimulate economic processes and providing enterprises with public financial aid to maintain employment, etc. by issuing additional series of treasury bonds, which are largely directly purchased by central banks pursuing a full range of autonomous monetary policy. In addition, in the coming years, the importance of cryptocurrencies may still increase in terms of their use in online payments and settlements. Cryptocurrencies are beyond the control of financial regulators, beyond the control of commercial banks and central banking. However, as more and more banks and mutual funds create their own cryptocurrencies, the impact of the institutional financial system on the cryptocurrency markets may increase in the future. Due to the growing importance of anti-crisis state intervention, under which in the fight against financial and economic crises, apart from the instruments of fiscal policy, the instruments of active monetary policy are also used, so in the future the importance of electronic transactions and settlements carried out by central banks may also increase. Thanks to the large-scale use of public financial aid offered to enterprises operating in selected sectors of the economy, the amount of money circulating in the economy continues to grow and will continue to grow for at least a few more months, i.e. as long as the impact of the SARS-CoV-2 (Covid-19) coronavirus pandemic on the economy will go out completely. It remains an unresolved question whether the increase in the amount of money circulating in the economy will concern both money that functions only electronically and cash, or mainly money used for online settlements and payments, and money operating as part of online banking operations.

Best regards,

Dariusz Prokopowicz

Communication Technology, Food Processing and Pharmaceutical industries will be flourished.

Almost all of money is digital.

If there is power and wealth, digital or physical, there will always be corrupt, corruptors, and someone benefiting from everything!

Thank you professor Anamitra Roy for your valuable contribution to the discussion. The trend in the field of designing artificial intelligence, supporting the work and functioning of people. This direction seems to be given a high priority in the field of research and implementation. In terms of macroeconomics, further strengthening of the role of governments in the economy, which will be reflected in the expansionary fiscal policy - especially in supporting investment projects and probably solutions ensuring greater collective security in the field of infectious diseases.The state's experience in combating covid-19 will not be forgotten. All the best

thank you prof. Dariusz Prokopowicz for an extremely exhaustive and intellectually in-depth analysis of the problem. I admire your knowledge of the formation of megatrends and general knowledge of micro and macroeconomic mechanisms. Undoubtedly, in my article on the shaping of the postcovid world economy, let me refer to you and use your thoughts and conclusions. Best Regards

There is a great problem that technology development becomes much faster than the evolution of human mental abilities, which stagnates in the last millennia. The people are forced to learn work with new programs or machines. It needs an enormous effort, which is however just a complex mechanical activity, but the machines are continuously innovated and ask for time investments. On other hand, the automatized production evaluates human work. Many people become unnecessary, without any perspective. Ic causes serious social problems generating heavy conflicts.

Great observation by Dr. Zbyšek Šustek. Our menatality and spiritual culture will change much slower than the technology invented and implemented by our technicians. As a result, we sometimes become helpless in the "face of technology" and its possibilities related to improving or deteriorating the quality of our life (staring at the smartphone without interruptions leads to various diseases and even death on the road under the wheels of the car). In Western countries, we have probably focused too much on constantly inventing and implementing new technologies (technological race without reflection), rather than on the best possible use of what we already have at a given level of technical equipment. Dear Doctor, therefore, do you focus on further automation of production processes and elimination of people from the labor market?

Yes, it is true. One of the main problems is the illusion that unlimited growth is possible, there is an obsession of continuous ranking, a negligible difference in two performances(in sport, for example) is exaggerated to fatal dimensions. There is an absence of philosophy or it is replaced by meanings of actors, singers, or sportsmen. The really educated personalities are replaced by "celebrities". All these causes serious and hardly resolvable problems.

Many people realized that our path taken by the societies and the whole humanity reached a turning point. We do not know what will come next, but we are sure that it would be different.

We cannot exploit the Earth, the Nature, oceans, land, animals, and plants without paying the price. Currently ongoing infection is just a mild varning about what can happen when we do not change the course of our boat.

Personality, I do see a transition of the humanity into a different living mode, or as the alternative, terrible wars for resources and dominance.

It is up to us, what path are we going to choose?

I hope for the three core principles as "megatrends" (love, peace and harmony). And no more technics we do not need so that mother nature can recover a bit...

Digital Transformation in all fields especially on Education System, Physical and Mental Health, Food Habbits, Go Green Environment will play a major role in post covid pandemic situation.

Thank you dear G.T. Bharatha for your valuable opinion. I agree with your position and if you can develop your forecasts and recommendations a bit more, I would be grateful.

Dear Arnab Dey, thank you for such a deeply thought-out, valuable post on megatrends and technology. I am impressed by your knowledge and ability to anticipate changes in the world of technology and the consumption of goods and services. Many thanks, Arnab@

Regarding technologies, my bet is machine learning, which has already a hot topic before Covid. Regarding mega trends, the biodiversity and climate crises are already dominating the news (e.g., heat wave in North America, floodings in Germany). Solving these crises are the mega challenges in the years to come.

Thank you, Dear Andreas Wieland, for expressing your predictions about leading technology trends. Machine learning is already widely used in the analysis of mass data, for example data from social networks. All the best

To complement Stephen I. Ternyik's contribution, I would like to point out the recent development that the Governing Council of the European Central Bank (ECB) decided on July 14 to launch the study phase of a project on the digital euro. The subject of the two-year investigation will be important aspects relating to design and distribution. A digital euro should help prevent illegal activities and avoid any undesirable effects on financial stability and monetary policy. In my opinion, this is a necessary step for the European Central Bank to have a regulating influence on the crypto market and for users to have a more secure, environmentally and privacy-friendly digital payment medium than Bitcoin & Co.

I agree with Andreas Wieland that the climate crisis will be the mega challenge for the years to come, specially after the pandemic and its clear evidences of been a result of bad strategic urban planing.

I also believe that IOT will still play an important role in the next years, with a demand for more connected World. It can also provides tools for better managing of our resources and emissions.