There was once a new currency that allowed for anonymous transactions and was issued in a fixed total amount in order to stabilise its value. However, it was a fiat currency, not pegged to gold or another fixed asset. Not surprisingly this novel currency was highly volatile in value, constantly rising and falling. Its introduction... Continue Reading →
10-minute explainer on Stablecoins by Dave Birch from the Centre for the Study of Financial Innovation There are about $117 billion of various sorts of so-called stablecoin out there - and some serious folk worry about the systemic implications. Not (necessarily) Dave Birch, who acknowledges that there are scams, and that there is a need... Continue Reading →
Grab a coffee and read Dave Birch’s latest Forbes article - PayPal’s Bitcoin Strategy Is Not About Bitcoin Given that the people who are great supporters of Bitcoin often talk about its key characteristic being that it is person-to-person, uncensorable value transfer you do have to wonder who will be using the new PayPal service that will allow them to pay... Continue Reading →
The European Central bank is to conduct a public consultation on the possible creation of a digital euro, after a high-level taskforce sketched out possible scenarios that would require central banks to mint their own cryptocurrency. The Eurosystem task force, bringing together experts from the ECB and 19 national central banks of the euro area,... Continue Reading →
Bank of England Governor Andrew Bailey on the future of cryptocurrencies and stablecoins On September 3, the Hutchins Center on Fiscal & Monetary Policy at Brookings hosted Andrew Bailey, Governor of the Bank of England, to discuss how these trends are evolving and the growing role of stablecoins, which are cryptocurrencies linked to the price... Continue Reading →
