this class was very useful, the information was clearly presented, thank you very much! hopefully more topics will be covered by the CIF and uploaded in the near future, thanks again!
Thank you so much for this very informative video. Can I create and use a stable coin on my e-commerce website to unify international payment from diverse countries using different currencies ?
Dear Christian, I'm happy to hear that you found the lecture informative. Regarding your question: There's nothing that strictly forbids your high-level idea. However, I'm not sure what goal you want to achieve. Let's assume you create the My-Shop-Stable-Coin (let's call it MSSC) which users can buy against different currencies and then use as payment in your e-commerce website. What exactly is gained from users having to exchange their various currencies (presumably with you) against MSSC before being able to pay on your e-commerce website? For your users, it's an additional step. You'd still end up handling various currencies and - on top of this - you are highly likely to be subject to regulatory oversight when issuing and selling a coin against FIAT currency. I hope this helps - KS
Can a CBDC be built on the ethereum blockchain? If yes will that lead to the shutdown of financial institutions in the country ( ie banks?) or will they be able to operate together
Theoretically, it would be possible to implement a CBDC on a public Blockchain. It would most likely make use of the ERC-20 token standard and implement additional restrictions, similarly to what we usually find in security token contracts. In practice, most CBDC implementations use permissioned (mostly centralized) Blockchains. The effect of a CBDC on commercial banks is one of the hottest research topics in monetary economics and macroeconomics. Some disintermediation is possible, but there is no reason to believe that commercial banks would disappear entirely. Central banks are not in the business of competing with commercial banks in terms of the services they provide. Also, CBDCs are inherently centralized, even when implemented on a public chain. For a discussion on the differentiation between CBDC and Bitcoin, see: papers.ssrn.com/sol3/papers.cfm?abstract_id=3194981 I hope this helps - FS
