BIS paper lays out ‘crucial’ design choices for CBDC
Challenge is to design a currency that balances credibility and convenience, says Hyun Song Shin
Several design choices will be “crucial” to the success or failure of central bank digital currency (CBDC), say researchers.
“Central banks are increasingly exploring the desirability and feasibility of establishing their own peer-to-peer systems through digital currencies,” says Bank for International Settlements general manager Agustín Carstens in the introduction to the organisation’s latest quarterly review.
Carstens writes that there are several desirable features of CBDCs, including
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