Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences
The issuance of a central bank digital currency (CBDC) is aimed at maintaining economic efficiency and stability by preserving the role of central bank money, a new study argues.
The working paper from the European Central Bank (ECB) reviews CBDC-related literature from 2016. It finds that these studies do not account for the “conservative” nature of CBDC issuance.
The authors, Ulrich Bindseil and Richard Senner, argue that the previous literature does not take into account the design features of
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