central bank digital currency Archives

Should the U.S. government create a digital dollar?

Should the U.S. Government Create a Token-Based Digital Dollar?

Larry White/June 19, 2020June 19, 2022

Proposals for “central bank digital currency” (CBDC) come in two basic types: account-based and token-based. I have been critical of proposals for an account-based system. Until recently, there didn’t seem to be much active interest in a token-based system. But now comes a significant token-based proposal in…

central bank digital currency, retail payments, Davos, financial innovation, central banks

Digital Money, Financial Innovation, The Fed & Central Banks

Efficient "Central Bank Digital Currency" is a Fantasy

Larry White/February 11, 2019June 19, 2022

In January I had the pleasure of participating on a panel on “The New Financial System: Decentralized?” at the Blockchain Economic Forum in Davos, Switzerland. (Video of the panel is here.) The panel was preceded by a talk by Prof. Nouriel Roubini of the NYU Stern School…

Digital Money, News, The Fed & Central Banks

Central Bank Digital Currency Threatens Financial Privacy and Economic Growth

Larry White/December 4, 2018June 19, 2022

Various proposals for “central bank digital currency” (CBDC) have been under discussion for several years now. The central bank of Ecuador launched a digital currency in 2015 — and shut down the failed project three years later. A number of economists have addressed the topic. What is…