CBDCs risk becoming a gigantic flop
CBDCs are increasingly being discussed, but with little focus on their fundamentals. Peter Bofinger and Thomas Haas consider the design options
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CBDC
Digital money and financial stability
Crossborder payments are at the heart of the international monetary system. Tao Zhang considers the implications for monetary and financial stability of new forms of digital money
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From the payments revolution to the reinvention of money
The digital transformation is triggering a revolution in the financial sector, which will bring innovation but also risks, says Fabio Panetta. The ECB strategy provides a forceful policy reaction
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Seizing the opportunities from digital finance
Developments in digital finance could transform how consumers and businesses make payments and raise finance. This could help revitalise the UK economy, says Andy Haldane.
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Innovating in a changing world
Victoria Cleland says faster, cheaper, more transparent, and more inclusive crossborder payment services will have widespread benefits for citizens across the globe both directly and through supporting economic growth, international trade and global development
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The microeconomics of cryptocurrencies
Hanna Halaburda, Guillaume Haeringer, Neil Gandal and Joshua Gans summarise the main research findings to establish a base for future research
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Reinventing the wheel (with more automation)
Andrew Bailey looks at recent innovations in payments and the challenges they bring, reiterating the Bank of England’s interest in CBDCs and stablecoins
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Finance disrupted by innovation
New technologies are disrupting every corner of the financial sector. Benoît Cœuré focuses on the role that central banks are playing in ensuring that technological innovation is a force for good
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The challenges of the digital euro
Denis Beau argues it is unlikely that banks will be erased from a future payments landscape in which stablecoins and central bank digital currency dominate
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