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Federal Reserve Bank of Boston Principal Architect on CBDC’s & Bitcoin: MIT Bitcoin Conference – April 3 2021

Federal Reserve Bank of Boston Principal Architect on CBDC’s & Bitcoin: MIT Bitcoin Conference – April 3 2021



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  1. CBCDs only provide minor benefits while not really solving any of the major issues with fiat currency. They don’t address the lack of a predictable monetary policy or lack of a stable monetary supply. With bitcoin you know the protocol and you know what the total supply is.

  2. Forget CBDC. It is FUD. Central Banks try to confuse people. It is only a concept, they dont have anything.

    CBDC stands for Central Bank Digital Currency. So it is not Commercial Bank Digital Money (we already have that). The difference is: with CBDC you can have money, what is normally cash. Cash is Central Bank money (however not digital, you can hold it in your hands).

    On cash, there is no fractional banking. So I suspect, there is no fractional banking possible with CBDC.

    Banks will not be happy with this because this is a threat on their business model. Central Banks will not accept that.

    So it is not even technical very difficult to develop a CBDC, there are also political problems.

    At the same time, CBDC solves nothing a real decentralized currency solves.

    Don’t worry, let them talk.

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