How does the market for cross-border payments look like today and which role plays Bitcoin in this context? A recent in-depth report by River examines the cross-border payments industry and Bitcoin adoption in the context of cross-border payments. Key insights on...
How does the market for cross-border payments look like today and which role plays Bitcoin in this context? A recent in-depth report by River examines the cross-border payments industry and Bitcoin adoption in the context of cross-border payments. Key insights on cross-border payments 1️⃣ In 2022, cross-border payments volume was more than 150 trillion US dollar. 2️⃣ On average, remittances cost...
What do people think about central bank digital currencies (CBDCs)? A survey of > 90,000 conducted with capital markets and investment practitioners sheds some light on the demand side of CBDCs. Key insights: 1️⃣ There is limited understanding of and support for...
Deutsche Bundesbank published an article in its recent monthly bulletin addressing this question. Key observations: 1️⃣ The financial sector expects substantial efficiency gains from the combination of using a DLT and the tokenization of assets. Key efficiency drivers...
ARTE has recently published a documentary on Bitcoin titled “Cryptocurrencies: how dangerous is the new money”. The documentary lets opponents and proponents of #Bitcoin speak and (mainly) provides a balanced discussion. Clearly, progress in the public reporting on...
On Monday August 7, PayPal announced that it will launch a US dollar stablecoin, called PYUSD. This step is not surprising, because it is known for quite a while that PayPal is working on its own stablecoin. Still, it is a tremendous step for the whole crypto sector....
The European Central Bank recently published its forth progress report on the investigation phase of a digital euro. It aggregated the Eurosystem’s views on principles for a compensation model, updates on ongoing work and the results of the prototyping expertise as...
The BIS Innovation Hub (BISIH) submitted a report to the G20 Finance Ministers and Central Bank Governors on its key lessons of their 12 CBDC projects. In general, the CBDC projects explored feasibility, desirability, and viability. Overview over the BISIH CBDC...
The European Central Bank (ECB) recently published its report on the international role of the Euro. Interesting findings about the role and competitiveness of the Euro can be derived: 1️⃣In the last years, the role of the euro did not change significantly. 2️⃣ The...
The Bank for International Settlements (BIS) has recently released its annual survey on CBDC projects globally. Key findings: 1. Share of central banks working on CBDC rose to 93% 2. Work on retail CBDC is more advanced than on wholesale CBDC 3. 15 retail and 9...
On June 28, the European Commission published a regulatory proposal for the digital euro, a central bank digital currency (CBDC) for the Euro Area. In this proposal, the Commission suggested a way to design a digital euro and how to integrate it into EU laws. In this...
Important milestone around the digital euro! On Wednesday June 28, the European Commission published its perspective on the digital euro and suggested a concrete regulatory proposal. 10 Key Recommendation by the Commission (from the proposal): 1️⃣ The digital euro...
Dieses Papier analysiert die Geldpolitik der Europäischen Zentralbank (EZB) sowohl vor als auch nach dem Ausbruch der globalen Finanzkrise im Jahr 2008. In der Literatur wählen Forscher in der Regel ein Taylor-Regel-basiertes Modell, um die Geldpolitik der...
Wir entwickeln ein dynamisches stochastisches Allgemeines-Gleichgewichtsmodell (DSGE-Modell), um die Auswirkungen von digitalen Zentralbankwährungen (CBDCs) auf den Finanzsektor zu untersuchen. Unser Fokus liegt auf den Effekten von zins- und nicht zinstragenden CBDCs...
Die meisten Zentralbanken in fortgeschrittenen Volkswirtschaften erwägen die Einführung von digitalen Zentralbankwährungen (CBDCs) Eine entscheidende Design-Dimension einer CBDC ist das Maß an Transaktionsprivatsphäre. Bestehende Lösungen sind entweder anfällig für...
Zuletzt hat die Mitgliederversammlung der Digital Euro Association ihr neues DEA Executive Board gewählt. Das vorherige Vorstandsteam wurde in seiner Gesamtheit wiedergewählt und Anne-Sophie Gógl wurde zur neuen DEA Vize-Schatzmeisterin gewählt. Ich danke der gesamten...
Welche Vorteile, Herausforderungen und Kompromisse gibt es in Bezug auf die Tokenisierung? Die Bank für Internationalen Zahlungsausgleich (BIZ) hat in ihrem interessanten Bericht zur Tokenisierung (BIZ Bulletin Nr. 72) diese Fragen behandelt. Haupt...
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