A digital Euro: a necessity or a dangerous project? The appearance of Bitcoin, followed years later by the Libra-stablecoin-plan and China’s advanced pilote phase with CBDC have accelerated the corresponding research in most central banks and the preparation for a possible digital Euro at the European Central Bank. How much of a threat a Chinese CBDC or the introduction of Libra could be? Is it worth introducing a digital Euro and thereby taking the risk of disrupting a system which after all works? And if so, what is the better concept, an account-based or a DLT-based system?
Chief Economist at Hamburg Commercial Bank, expert on Central Bank Digital Currency (CBDC) and independent consultant at Berlin Economics, an economic policy consultancy for emerging economies. Author of the book „Unser Geld in der Krise“ („Our Money in Trouble“).
„Central banks and governments should face actively the competition with cryptocurrencies via CBDC instead of trying to forbid the appearance of Libra and Co.“
About Bitcoin he says:
"Bitcoin is something we should look at not only from the perspective of advanced economies but from the perspective of developing countries where institutions do not work adequately and Bitcoin can have great value added. Still, Bitcoin is in its infancy especially in terms of scalability."
This presentation was performed during the Value of Bitcoin Conference 2020 - on June 2nd 2020
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15 окт 2024
