Last week, one of the many dangers of such a project became clear: the possibility of its use for rampant paternalism.
A digital pound, backed by the Bank of England, could be a major win for individuals and businesses.
Free enterprise has huge benefits. But more than that, it is intensely democratic, open and diverse – breaking down monopolies, hierarchies and outdated practices.
Doing so would reduce crime, improve tax revenues and boost productivity.