The Bank for International Settlements explores Central Bank Cryptocurrencies
The Central Bank of Central Banks, Switzerland’s Bank for International Settlements (BIS), released a report on Sunday that looks at central bank cryptocurrencies (CBCCs), and if they would they be useful. The 17-page report, titled “Central Bank Cryptocurrencies,” was co-written by Morten Bech and UC Santa Barbara’s Rodney Garratt.
Central bank cryptocurrencies
New cryptocurrencies are emerging almost daily, and many interested parties are wondering whether central banks should issue their own versions. But what might central bank cryptocurrencies (CBCCs) look like and would they be useful? This feature provides a taxonomy of money that identifies two types of CBCC a retail and wholesale a and differentiates them from other forms of central bank money such as cash and reserves. It discusses the different characteristics of CBCCs and compares them with existing payment options.
Distributed ledger in payment,clearing and settlement: An analytical framework
The report provides an analytical framework for central banks and other authorities to review and analyse the use of distributed ledgers in payment, clearing and settlement activities. The main aim of the framework is to help understand the uses of DLT and, in doing so, identify both the opportunities and challenges associated with this technology in a critical part of the financial system.
