I keep seeing people claim that Bitcoin 'inspired' CBDC. Here are 5 points to set the record straight:
1) CBDC already exists & has done so for decades, but historically was called 'Reserves', which is digital money issued by central banks for use by commercial banks
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#CBDCs can help overcome some barriers facing the unbanked, write Agustín Carstens and H.M. Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development @UNSGSA @koninklijhuis @ProSynbit.ly/3JTidcx
Just out: "#CBDC: a new tool in the financial #inclusion toolkit?"
bis.org/fsi/publ/insig…
This joint @BIS_org & @WorldBank work is based on interviews with 9 central banks. Holti Banka, Nana Yaa Boakye-Adjei, Jon Frost, Ahmed Faragallah, Harish Natarajan, Jermy Prenio,..[1/n]
🧵 Central bank digital currencies have potentially far-reaching implications for the monetary and financial system as a whole, says Executive Board member Fabio Panetta.
Full speech ecb.europa.eu/press/key/date…
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It's possible that the ECB's digital euro might offer cash-like levels of privacy for small (i.e. €200) offline transactions: ecb.europa.eu/press/key/date…
🆕 Er hat eine ganze Generation von Schweizer Ökonominnen ausgebildet, darunter den #SNB-Präsidenten und den SNB-Vizepräsidenten. Selber war er aber nie im Direktorium der #Nationalbank. Warum?
Antworten gibt es im #Geldcast
🎧 spoti.fi/3KI9qLc
🎧 apple.co/3J9xg2f
This is 2-part lecture series and an opportunity to gain deep knowledge of CBDCs as we review some of the best papers in the CBDC space.The authors of the papers will be on hand to present the papers and take questions from the audience. RSVP: cbdctt.com#cbdc#cbdcs
One of the sillier critiques of CBDC. There's no reason that CBDC will be more of a surveillance tool than bank accounts and crypto already are.
I still think the best criticism of CBDC is that there just isn't that much demand for yet another bank account product.
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