David Andolfatto: Fedcoin And The Implications Of Cryptocurrencies Issued By Central Banks

Many people think of Bitcoin as the ultimate contender against the power of central banks, most importantly the Federal Reserve System. But that is certainly not the only way that cryptocurrencies and the blockchain can be used and one particularly interesting idea is that central banks could issue their own cryptocurrencies.

To discuss how this could be done and what the consequences could be we were joined by David Andolfatto, a Vice President of Research at the Federal Reserve Bank of St. Louis and a professor of Economics at Simon Fraser University.

Topics covered included:
– What makes good money? How does Bitcoin fare in comparison?
– What is Fedcoin and how could it work?
– Why the tension between a governments desire for control and the desires for ‘permissionless innovation’ could make this difficult to implement
– Whether Fedcoin would threaten fractional reserve banking
– Why competition between currencies, both governmental and non-governmental, could be a good thing

Links mentioned in this episode:

– David Andolfatto: Why Gold and Bitcoin Make Lousy Money http://bit.ly/1C8EZ7h
– David Andolfatto: On the Desirability of a Government Cryptocurrency http://bit.ly/1IFfQ8N
– Business Insider Interview with David Andolfatto http://read.bi/1LauAzW
– Robert Sams: Seignorage Shares http://bit.ly/1LauxUX

*The views and opinions expressed by ou guest are his own and should in no way be attributed to his employer.*

(Visited 80 times, 1 visits today)

You might be interested in

LEAVE YOUR COMMENT

Your email address will not be published.

eos
EOS (EOS) 1,24 5,86%
aave
Aave (AAVE) 107,51 0,27%
the-graph
The Graph (GRT) 0,129936 7,17%
kusama
Kusama (KSM) 55,82 4,15%
waves
Waves (WAVES) 5,82 4,26%
dash
Dash (DASH) 51,49 6,54%
bitcoin
Bitcoin (BTC) 23.516,72 3,06%
ethereum
Ethereum (ETH) 1.841,00 5,00%
cardano
Cardano (ADA) 0,543396 3,29%
tether
Tether (USDT) 0,975037 0,63%
xrp
XRP (XRP) 0,364117 2,44%
solana
Solana (SOL) 42,58 6,67%
polkadot
Polkadot (DOT) 8,57 5,18%
usd-coin
USD Coin (USDC) 0,974717 0,16%
dogecoin
Dogecoin (DOGE) 0,077310 1,48%
uniswap
Uniswap (UNI) 8,23 6,77%
litecoin
Litecoin (LTC) 59,20 6,08%
chainlink
Chainlink (LINK) 8,47 3,32%
bitcoin-cash
Bitcoin Cash (BCH) 133,43 4,01%
algorand
Algorand (ALGO) 0,349577 3,74%
matic-network
Polygon (MATIC) 0,930567 6,08%
stellar
Stellar (XLM) 0,119955 3,73%
cosmos
Cosmos Hub (ATOM) 11,13 3,33%
filecoin
Filecoin (FIL) 8,12 1,52%
tron
TRON (TRX) 0,067240 3,11%
ethereum-classic
Ethereum Classic (ETC) 40,37 3,85%
dai
Dai (DAI) 0,974851 0,31%
tezos
Tezos (XTZ) 1,77 3,05%
monero
Monero (XMR) 159,95 2,37%