Tag Archives: digital currency

Economists have reacted negatively to the prospect of Facebook's Libra cryptocurrency. This column, part of the VoxEU debate on the future of digital money, outlines how if we focus exclusively on the efficiencies a currency like Libra brings to payment, there are arguments in its favour. A global digital currency provided by central banks may be preferable, but a private version would offer many of the same benefits.... The Libra operates on a fixed exchange rate with reference to floating...

Rohan Grey is a legal scholar and the research director of the Digital Fiat Currency Institute. He joins the show today to make the case for digital legal tender. David and Rohan also discuss privacy issues related to digital currency, getting the public onboard with a digital currency proposal, modern monetary theory, and how it is different than mainstream economics.... Audio and transcript.Seeking AlphaMacro Musings Podcast: Rohan Grey On Digital Currency, Privacy, And Modern Monetary...

This paper sets out three models of central bank digital currency (CBDC) that differ in the sectors that have access to CBDC. It studies sectoral balance sheet dynamics at the point of an initial CBDC introduction, and of an attempted large-scale run out of bank deposits into CBDC. We find that if the introduction of CBDC follows a set of core principles, bank funding is not necessarily reduced, credit and liquidity provision to the private sector need not contract, and the risk of a...

The People's Bank of China, China's central bank, has completed trial runs on the algorithms needed for digital currency supply, taking it a step closer to addressing the technological challenges associated with digital currencies, according to a top official associated with the project. Yao Qian, director-general of the Institute of Digital Money at the PBOC, said China's central bank has successfully designed a prototype that can regulate the supply of its future digital fiat currency....

I would like to consider the possible impact of three innovations—virtual currencies, new models of financial intermediation, and artificial intelligence. Some of these innovations have already found their way into our wallets, smartphones, and financial systems. But that is only the beginning. Are you ready to jump on my pod and explore the future together? As one of your fellow Londoners—Mary Poppins—might have said: bring along a pinch of imagination! 1. Virtual currencies...

Looks like the central bank (PBOC) is asserting its control of currency. As Yves Smith says, "prosecution futures."Ars TechnicaIt looks like China is shutting down its blockchain economy Timothy B. Lee

MONI has developed a prepaid debit card that circumvents the need for a bank account or identity papers. The card is linked to a unique digital identity stored on a blockchain – the same technology that underpins Bitcoin and other digital currencies.Two years ago, MONI partnered with the Finnish government to provide refugees with their monthly allowance, which until then had been paid in cash.... World Economic ForumFinland has created a digital money system for refugees Alex Gray