During her speech at the virtual Singapore FinTech Festival 2020, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva pinpointed how the digital future will hinge on key four cornerstones. (a)Private sector innovation:to measure the needs of people and businesses, provide diverse products and services, and undertake the risks necessary for innovation. (b)Public sector involvement:investment in infrastructure which is essential in the post-pandemic recovery efforts. (c)Regulatory and legal frameworks:which should be clear and particularly challenging in line with the rapid evolution of technology and products. This means that lawmakers and regulators should work alongside central banks and finance ministries and with antitrust agencies, privacy groups, data protection agencies (DPA), law enforcement, civil society, and consumer advocates. (d)International co-operation:which is essential to overcome the spillovers of the widespread use of digital money. These include domestic currencies being swapped for more enticing foreign currencies, reduced monetary policy effectiveness, and circumvention of capital account restrictions.