The evolution of money reflects the transition from physical forms to digital currencies, driven by technological advancements. Physical money, such as precious metals, has been replaced by fiat currencies, and today there are cryptocurrencies and central bank digital currencies (CBDCs). CBDCs improve access to financial services, reduce transaction costs, and increase financial inclusion, while cryptocurrencies present challenges such as volatility and regulatory issues. Digital money can be public (CBDC, stablecoins, cryptocurrencies) or private (cryptocurrencies). CBDCs are regulated by governments, while private currencies are not. Cryptocurrencies use blockchain technology and enable decentralized transactions, but face volatility and regulatory challenges. Central banks are facing new challenges due to digital currencies, as they reduce control over the money supply. Digital money can destabilize traditional monetary policy methods, but CBDCs offer a more stable form of state-backed digital currency. The use of digital money affects financial intermediation, as banks adjust their business models and collaborate with fintech companies. Digital money brings changes in capital transfer and risk management, enabling easier access to capital and higher cross-border flows. The development of digital currencies also presents new security and regulatory challenges. Given security threats, digital money requires a careful approach in defining standards and procedures. The future of digital money involves greater financial inclusion and more efficient transactions, with countries like China and the Eurozone already developing their own digital currencies. The use of blockchain technology facilitates a faster transition to digital currencies, while challenges related to cyber threats and regulatory obstacles remain. The digital yuan and digital euro have the potential to modernize financial systems but require careful management of challenges such as privacy and security.