-
Given that the ECCB has a fixed exchange rate regime, monetary policy implications of a CBDC would be limited. [But] key challenges that warrant careful considerations would include risks to financial intermediation, financial integrity, and cybersecurity.
-
“If the central bank issues CBDC, relevant transaction information will flow into the central bank. Its implication is not only a matter of protecting personal information, but also a matter of what kind of system design is desirable for the society in order to effectively utilize such commercial information for business purposes.”
-
“Artificial intelligence, such as the Bank of England Bot, is set to take over an increasing number of central bank functions. This column argues that the increased use of AI in central banking will bring significant cost and efficiency benefits, but also raise important concerns that are so far unresolved.”
-
Tron founder Justin Sun, new owner of the Steemit social network based on the Steem token, appears to have successfully executed a takeover of Steem by leveraging not only tokens directly controlled, but also tokens held on several major exchanges, in order to vote out the previous delegates (Steem uses a delegated proof-of-stake system) and install new ones. This means that customers of these exchanges likely had their funds used without their consent in this blockchain power struggle.
-
FDIC-insured banks don’t hold digital assets. They hold US dollars. So this should read “collateralized 1-to-1 with US dollars held at US-domiciled, FDIC-insured banks.” But even when corrected, this statement is so misleading it amounts to mis-selling. It implies that anyone who invests in this altcoin benefits from FDIC insurance. This is not the first time I have seen this claim made about cryptocurrency investments. It wasn’t true last time, and it isn’t now.
Kiffmeister’s Fintech Daily Digest 03/06/2020
