The advent of digital stablecoins and the continuing decline of cash are prompting central banks across the world to explore developing their own digital currencies. Although few have launched so far, the potential for central bank digital currency (CBDC) promises a revolution in banking.
Michael Lloyd considers the opportunities and threats that the arrival of CBDCs will have for commercial banking and the world’s monetary system. The choices facing central banks regarding the use, design and technology of digital currencies are examined as well as the potential impacts on consumer security and privacy.
Tabella dei contenuti
Introduction
1. Central banks consideration of retail and wholesale CBDCs
2. The domestic monetary and legal implications of CBDCs
3. Choices of technology for CBDCs
4. The impact on the commercial banking sector
5. The impact of CBDCs: the regional and international nexus
6. The future of money: the next decade
Appendix
Circa l’autore
Michael Lloyd is a Senior Research Fellow at the international affairs think tank, the Global Policy Institute, and a visiting fellow at Newcastle University. His books include The Euro and the UK (2009) and Federal Central Banks (coauthor) (2018).
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