Kiffmeister’s FinTech Daily Digest (06/07/2020)

FYI the following papers from the Bank of England (BoE) and Bank for International Settlements (BIS) should be required reading for all economists studying central bank digital currency. The devil’s in the details and too many assume the single tier operating model in which the central bank provides end-to-end service:

CBDC Model Applicable for the Current Banking Environment
This paper builds out a multi-tier central bank digital currency operating model thet can be implemented without requiring an overhaul of the current banking system. Central banks will issue coins and govern transactions within the system, while commercial banks will circulate the currency and provide additional services to individuals by the means of smart contracts. The proposed system uses python-sdk for providing user interface through a web application and operating under a single node.

MVIS and CryptoCompare Launch the MVIS CryptoCompare Bitcoin Benchmark Rate
MV Index Solutions GmbH and CryptoCompare launch the MVIS CryptoCompare Bitcoin Benchmark Rate (BBR), an index designed to offer a robust hourly price for Bitcoin in USD. The raw data powering the index is derived from transaction prices across five top exchanges: Bitstamp, Coinbase, Gemini, itBit, and Kraken.

Posted from Diigo: