The slides (PDF) of a recent presentation of mine at a round table on the future of finance.
Read More »Private vs. Public Money
The slides (PDF) of a recent presentation of mine at a round table on the future of finance.
Read More »JPM Coin
In the FT, Robert Armstrong reports about the new “JPM coin” launched by JP Morgan. “JPM Coins” will be transferable over a blockchain between the accounts of the bank’s corporate clients, who will purchase and redeem them for dollars at a fixed 1:1 ratio, making them “stablecoins” in the crypto-jargon. The technology will facilitate near-instantaneous settlement of these money transfers and will, according to the bank, mitigate counterparty risk. According to my reading, the coins are...
Read More »JPM Coin
In the FT, Robert Armstrong reports about the new “JPM coin” launched by JP Morgan. “JPM Coins” will be transferable over a blockchain between the accounts of the bank’s corporate clients, who will purchase and redeem them for dollars at a fixed 1:1 ratio, making them “stablecoins” in the crypto-jargon. The technology will facilitate near-instantaneous settlement of these money transfers and will, according to the bank, mitigate counterparty risk. According to my reading, the coins are...
Read More »“Mounting Pressure on Central Banks,” finews.asia, 2018
finews.asia, December 27, 2018. HTML. Independence has increasingly come under pressure and this pressure will remain. What has been tried and tested for years is now questioned again. Increasing demands on central banks reflect the failure of other state organs.
Read More »“Mounting Pressure on Central Banks,” finews, 2018
finews.asia, December 27, 2018. HTML. finews.ch, December 27, 2018. HTML. Independence has increasingly come under pressure and this pressure will remain. What has been tried and tested for years is now questioned again. Increasing demands on central banks reflect the failure of other state organs.
Read More »“Central Bank Digital Currency: What Difference Does It Make?,” SUERF, 2018
December 2018. PDF. In: Ernest Gnan and Donato Masciandaro, editors, Do We Need Central Bank Digital Currency? Economics, Technology and Institutions, SUERF, The European Money and Finance Forum, Vienna, 2018. A short version of the CEPR working paper.
Read More »“Central Bank Digital Currency: What Difference Does It Make?,” SUERF, 2018
December 2018. PDF. In: Ernest Gnan and Donato Masciandaro, editors, Do We Need Central Bank Digital Currency? Economics, Technology and Institutions, SUERF, The European Money and Finance Forum, Vienna, 2018. A short version of the CEPR working paper.
Read More »TIPS Goes Online
The ECB launches its Target Instant Payment Settlement (TIPS) system, which facilitates instant money transfers between banks and allows end users connected to those banks to make instant retail payments across the Euro zone. Report in the FAZ. Last year’s report by Mehreen Khan in the FT. From the ECB’s website: TIPS was developed as an extension of TARGET2 and settles payments in central bank money. TIPS currently only settles payment transfers in euro. However, in case of demand other...
Read More »TIPS Goes Online
The ECB launches its Target Instant Payment Settlement (TIPS) system, which facilitates instant money transfers between banks and allows end users connected to those banks to make instant retail payments across the Euro zone. Report in the FAZ. Last year’s report by Mehreen Khan in the FT. From the ECB’s website: TIPS was developed as an extension of TARGET2 and settles payments in central bank money. TIPS currently only settles payment transfers in euro. However, in case of demand other...
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