MORTEN L. BECH, Bank for International
Settlements (BIS) - Committee on Payments and Market Infrastructures
Email: morten.bech@bis.org
RODNEY GARRATT, University of California Santa Barbara
Email: garratt@ucsb.edu
Email: morten.bech@bis.org
RODNEY GARRATT, University of California Santa Barbara
Email: garratt@ucsb.edu
New
cryptocurrencies are emerging almost daily, and many interested parties are
wondering whether central banks should issue their own versions. But what might
central bank cryptocurrencies (CBCCs) look like and would they be useful? This
feature provides a taxonomy of money that identifies two types of CBCC - retail
and wholesale - and differentiates them from other forms of central bank money
such as cash and reserves. It discusses the different characteristics of CBCCs
and compares them with existing payment options.
Book pp. 73-74
