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The waiting for CBDCs is almost over and the ordeal of the incumbents is about to begin

A summary of the webinar of 23 November 2021 entitled The waiting for CBDCs is almost over and the ordeal of the incumbents is about to begin. Interest in CBDCs at central banks is almost universal, but the spectrum of stages of development is wide. The most advanced jurisdictions are, with the exception of China,Continue reading “The waiting for CBDCs is almost over and the ordeal of the incumbents is about to begin”

The waiting for CBDCs is almost over and the ordeal of the incumbents is about to begin (23 November 2021)

A Future of Finance Webinar with Central Banks, Banks, Payment Organisations, Regulators and Technology Companies Tuesday November 23 2021, 14.00 – 15.00 UK time Perhaps one jurisdiction and a half have actually launched a Central Bank Digital Currency (CBDC). But the second largest economy in the world (China) is now promising to turn its pilotContinue reading “The waiting for CBDCs is almost over and the ordeal of the incumbents is about to begin (23 November 2021)”

CBDCs Summary ‘The message from CBDCs to payments banks is innovate or die’

THE SUMMARY,  HIGHLIGHTS AND FULL VIDEO (AT BOTTOM OF PAGE) OF THE CBDCS DISCUSSION JULY 21 1. Is a two-tier system, in which central banks provide the infrastructure and commercial banks provide the customer-facing services a settled model for building a CBDC?  In an article on CBDCs in its 2021 annual report the Bank forContinue reading “CBDCs Summary ‘The message from CBDCs to payments banks is innovate or die’”

The Engineering and Design Problems of Building a US Dollar CBDC

The central bank that runs the major global reserve currency has largely resisted the temptation to join the increasingly animated debate about central bank digital currencies (CBDCs). But this summer will see the publication by the Federal Reserve of a major consultation paper on making the US dollar available as a CBDC.

​Bank of England consultation paper is too coy about the consequences of a CBDC

The main reason that central banks are cautious about issuing central bank digital currencies is that they threaten to undermine the source of funding of the commercial banks, and therefore their ability to lend. It is hard to see how this risk can be avoided.