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@@ -29,6 +29,11 @@ staticfiles: - robots.txt meetingnotes: newsposts: + - page: 2021-02.html + date: 2021-02-23 + title: How to issue a Central Bank Digital Currency + abstract: With the emergence of Bitcoin and recently proposed stablecoins from BigTechs, such as Diem (formerly Libra), central banks face a choice of either leaving the field to private actors or offering their own digital alternative to physical cash. We do not address whether a central bank should issue a central bank digital currency (CBDC). Instead, we demonstrate how a central bank could do so, if desired or needed. We propose a token-based system without distributed ledger technology and show how earlier-deployed, software-only electronic cash can be improved upon to preserve transaction privacy, meet regulatory requirements in a compelling way, and offer a level of quantum-resistant protection against systemic privacy risk. Neither monetary policy nor financial stability would be materially affected because our CBDC would replicate physical cash rather than bank deposits. + content: - page: 2020-11.html date: 2020-10-25 title: RFC 8905 - "The 'payto' URI Scheme for Payments" published |