Public Debt in the Digital Finance Era: Opportunities, Risks, and the Future of Sovereign BorrowingPublic debt has always been a cornerstone of economic policy, shaping the relationship between governments, markets, and citizens. A Changing Financial EnvironmentThe rise of fintech platforms, digital currencies, and distributed ledger technology is revolutionizing the way sovereign debt is issued and managed. – Digital debt platforms could become prime targets for hackers, risking falsified records, auction disruption, or investor data theft. Tokenization of Debt – By fractionalizing sovereign debt into digital tokens, governments can expand liquidity and reach retail investors worldwide—though exposure to volatile crypto markets poses risks. Policy Priorities for the FutureFor digital finance to strengthen rather than destabilize sovereign borrowing, governments should prioritize:Robust cybersecurity to protect digital debt infrastructure from cyberattacks.