From 955a07a6bfac9338ac48f4c9ba2a7f95274e94cf Mon Sep 17 00:00:00 2001 From: Christian Grothoff Date: Tue, 23 Feb 2021 12:57:31 +0100 Subject: CBDC news --- news/2021-01.html.j2 | 29 +++++++++++++++++++++++++++++ 1 file changed, 29 insertions(+) create mode 100644 news/2021-01.html.j2 (limited to 'news') diff --git a/news/2021-01.html.j2 b/news/2021-01.html.j2 new file mode 100644 index 00000000..70d2e022 --- /dev/null +++ b/news/2021-01.html.j2 @@ -0,0 +1,29 @@ +{% extends "common/news.j2" %} +{% block body_content %} +

2021-2: "How to issue a Central Bank Digital Currency" published

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+We are happy to announce the publication of our paper on "How to Issue a Central Bank Digital Currency" +by the Swiss National Bank. +

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+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. +

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