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Central bank digital currencies are increasingly regarded worldwide as viable means of payment. But how do CBDCs affect welfare when used as stores of value? A recent study investigates the ramifications of CBDCs as public money serving as stores of value, customers’ heterogeneous beliefs about bank stability and how it all impacts banks.
Cryptocurrencies and CBDCs have the potential to enhance financial inclusion. However, the lack of quantitative data makes it challenging to evaluate their impact. To assess their financial inclusion capacity, we need to consider multiple layers and adapt strategies to local needs and policies.
The Bank of International Settlement has worked with two of Europe's central banks to explore preventing the security risks posed by quantum computers
<p><span>Good afternoon to you all. Thank you to R3 for inviting me to speak at CordaCon in London.</span></p>
<p><span>Recent volatility has exposed serious vulnerabilities in the crypto financial system.</span><a title="footnote 1" href="https://www.federalreserve.gov/newsevents/speech/brainard20220708a.htm#fn1"><span>1</span></a><a name="f1"></a><span> While touted as a fundamental break from traditional finance, the crypto financial system turns out to be susceptible to the same risks that are all too familiar from traditional finance, such as leverage, settlement, opacity, and maturity and liquidity ...