In a world where central banks issue digital currencies, bitcoin and Libra may have a place

Cryptocurrency bitcoin and Facebook-backed Libra could play a role in a world where central banks globally begin to issue their own digital currencies, a former top central banker told CNBC's "Beyond the Valley" podcast.While both have had their critics, Raghuram Rajan, former governor of the Reserve Bank of India, said that the two digital currencies could have a place when central banks enter the fray."I would like to think that these private currencies are also in competition with the central bank digital currency," Rajan told CNBC's "Beyond the Valley" podcast.Digital currencies are likely to have big implications for the role central banks and retail lenders play in the world and could change the face of the entire financial system. While the idea is still being debated, central banks would likely issue digital versions of fiat currencies. The People's Bank of China is already doing pilots while other central banks are…

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