In this presentation Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank AG, is talking about the differences between bitcoin and central bank digital currencies (CBDCs) and how one led to the other.
While many economist still fight about the question if Bitcoin is money or not, central banks are not willing to wait for an answer. Instead, they are thinking about modernising their money system via Central Bank Digital Currency (CBDC). There are many motives for central banks to setting up research projects about CBDC. However, it is clear that Bitcoin’s main technological invention of being able to transfer value through the internet in an immutable way requires monetary authorities to rethink their own technology. The presentation will be about the main differences between Bitcoin and CBDC and why Central banks may have a good chance to survive the disruptive Bitcoin-technology if they act soon.