by Summary:
NZZ, November 29, 2016. HTML, PDF. Central banks are increasingly interested in employing blockchain technologies, and they should be. The blockchain threatens the intermediation business. Central banks encounter the blockchain in the form of new krypto currencies, and as the technology underlying new clearing and settlement systems. Krypto currencies bear the risk of “dollarization,” but in the major currency areas this risk is still small. New clearing and settlement systems benefit from central bank participation. But central banks benefit as well; those rejecting the new technology risk undermining the attractiveness of the home currency.
Topics:
Dirk Niepelt considers the following as important: Bank supervision, Bitcoin, Blockchain, Central Bank, Clearing system, Contributions, Crypto currency, currency, Dollarization, Intermediation, Legal tender, Means of payment, Payment system, Settlement system
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NZZ, November 29, 2016. HTML, PDF. Central banks are increasingly interested in employing blockchain technologies, and they should be. The blockchain threatens the intermediation business. Central banks encounter the blockchain in the form of new krypto currencies, and as the technology underlying new clearing and settlement systems. Krypto currencies bear the risk of “dollarization,” but in the major currency areas this risk is still small. New clearing and settlement systems benefit from central bank participation. But central banks benefit as well; those rejecting the new technology risk undermining the attractiveness of the home currency.
Topics:
Dirk Niepelt considers the following as important: Bank supervision, Bitcoin, Blockchain, Central Bank, Clearing system, Contributions, Crypto currency, currency, Dollarization, Intermediation, Legal tender, Means of payment, Payment system, Settlement system
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NZZ, November 29, 2016. HTML, PDF.
Central banks are increasingly interested in employing blockchain technologies, and they should be.
- The blockchain threatens the intermediation business.
- Central banks encounter the blockchain in the form of new krypto currencies, and as the technology underlying new clearing and settlement systems.
- Krypto currencies bear the risk of “dollarization,” but in the major currency areas this risk is still small.
- New clearing and settlement systems benefit from central bank participation. But central banks benefit as well; those rejecting the new technology risk undermining the attractiveness of the home currency.