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Why Central Banks Will Issue Digital Currency | by Adam Ludwin

News 28 Nov , 2021 | 11:54 am | admin


A Summary of Chain’s Presentation at the Federal Reserve

Adam Ludwin

Introduction

A busy month
The Bitcoin Whitepaper
Bitcoin transaction growth since inception. Now at 250,000 transactions per day.
The asset requirements determine the network model

Blockchain: a new medium for money

Digital bearer instruments
A future enabled by digital bearer instruments on blockchain networks

Digital transfer without copying

A typical network
Transfer without copying
Automatic delivery against payment
Key blockchain benefits

How do financial assets get on the network?

A bank issues a digital dollar for each dollar deposited in a full reserve trust
A central bank issuing currency in a new medium
Instant settlement of two native digital assets
Who should be able to custody digital money?

What does the future hold for central bankers and regulators?

A Cheat Sheet for Policymakers
Why regulators should encourage capital market blockchains
A question of when, not if

Public sector leadership is key



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