The race for the future of money is on.
Rise of Digital Currencies
Digital payment systems are bringing millions of unbanked and underbanked online and closing inequality gaps in many developing economies. But the risks are clear – cyberthreats, fraud, illicit and untraceable money laundering. Should more governments step in and create Central Bank Digital Currencies (CBDCs)? What are China’s ambitions for the digital yuan? Our work will ask whether a transatlantic cooperative project can set new standards on digital currencies and ensure stable and transparent cross-border payments.
Digital currencies Aug 25, 2020
Advanced economies under pressure in the central bank digital currency race
By Barbara C. Matthews, Hung Tran
Advanced economy central banks are also actively engaged in CBDC research and development efforts. But as guardians of global reserve currencies, their approaches will necessarily be more deliberate and cautious than Beijing’s aggressiveness.
Digital currencies Aug 24, 2020
China’s Digital Currency Electronic Payment Project reveals the good and the bad of central bank digital currencies
By Hung Tran, Barbara C. Matthews
The development of the DCEP has revealed the significant advantages and potential drawbacks for both China’s digital currency project and the potential for widespread central bank digital currencies around the world.
The Euro at 21
As the Euro hits twenty-one, it’s time to consider the future of the monetary union. The Center will explore whether the monetary union will become a fiscal union, if negative interest rates are sustainable for another decade, and whether the Coronavirus has permanently eroded trust between Eurozone members.
The Dollar’s Destiny
The flood of dollars from the Federal Reserve in response to COVID-19 raises long-term concerns about a global economic system so reliant on one central bank and currency. Is the role of the dollar sustainable? Will massive QE generate inflation, deflation, or something different? What would the global financial system look like if the dollar was no longer the main reserve currency?