In a new blog post, I take a deep dive into the central bank digital currency (CBDC) technology platform decision, broadly speaking breaking the options down into those with centralized or decentralized ledger architectures, and ledger-less stored value platforms. I also tabulate what I believe to be the main players in the retail CBDC platform space. I’m open to comments and suggestions, especially if I’ve missed any, but please provide links to written material that supports them.
The Bank of Israel has decided to accelerate its research and preparations for a possible future launch of a digital currency. A steering committee set up by the bank has issued a report outlining the potential benefits, a draft model and issues to examine, accompanied by a public call for responses. The draft model envisages a two-tier framework in which the central bank provides digital shekels to private sector payments providers who would then act as the interface to the general public.
Dogecoin jumped today from around 46 cents to as high as 54 cents after Elon Musk posted a survey on Twitter asking “Do you want Tesla to accept Doge?” Within about thirty minutes, the survey had 750,000 respondents.
Edward Snowden thinks Bitcoin isn’t private enough—and that an upcoming software update could make it worse. Taproot, which was first proposed in early 2018, is in the process of making its way from developers’ brains to the Bitcoin protocol itself. When it does come online, it’s supposed to improve privacy as well as scalability and security.
*For those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: https://www.diigo.com/user/kiffmeister/Fintech