diff options
Diffstat (limited to 'news/2021-03.html.j2')
| -rw-r--r-- | news/2021-03.html.j2 | 38 |
1 files changed, 0 insertions, 38 deletions
diff --git a/news/2021-03.html.j2 b/news/2021-03.html.j2 deleted file mode 100644 index 6f4ddfa..0000000 --- a/news/2021-03.html.j2 +++ /dev/null @@ -1,38 +0,0 @@ -{% extends "common/news.j2" %} -{% block body_content %} -<h1>2021-3: "Why a Digital Euro should be Online-first and Bearer-based -" published</h1> -<p> -We are happy to announce the publication of our paper on "Why a Digital Euro should be Online-first and Bearer-based". -</p> -<p> -The European Central Bank’s “Report on a Digital Euro” considers -two distinct types of designs for a digital euro. It argues that all functional -requirements laid out in the report can be fulfilled by operating the two systems -in parallel: -<ul> -<li>A bearer-based digital euro based on trusted hardware that can be used -offline, anonymously, and without third-party intervention. -<li>An account-based digital euro that can be used online, is fully software- -based and excludes the possibility of anonymity. -</ul> -The report does not discuss other choices of hybrid systems. However, the -choice is more arbitrary than it might seem at first sight: bearer-based systems -are not necessarily offline payment systems, and online payment systems do not -need to exclude anonymity. -</p> -<p> -We argue that operating a bearer-based payment system to complement an -account-based CBDC in order to gain offline and privacy features is not a good -trade-off. Adding permanent, regular offline capabilities via the bearer-based -payment instrument constantly exposes the CBDC to the severe issues inherent -in offline-capable payment systems. Instead, the offline mode of operation -should be restricted to scenarios where it is actually required, which mitigates -the risks. -</p> -<h4>Download links</h4> -<ul> -<li><a href="/papers/euro-bearer-online-2021.pdf">PDF (English)</a></li> -</ul> - -{% endblock body_content %} |