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MNI BRIEF: ECB Digital Euro Plan Needs Improvement - Paper

(MNI) LONDON
FRANKFURT (MNI)

Central banks issuing digital currency should use a token-based system without distributed ledger technology, an independent working paper published by the Swiss National Bank on Wednesday has argued

"Neither monetary policy nor financial stability would be materially affected because a CBDC with this design would replicate physical cash rather than bank deposits," David Chaum, Christian Grothoff and Thomas Moser write. The European Central Bank has proposed a similar system, they add, but its privacy, performance, or security benefits over existing deposit money are "unclear."

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
SNBPolicy NewsCentral Bank NewsSwitzerlandEuropean Central BankCEEMEAEurozoneBriefStoryRegion
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
SNBPolicy NewsCentral Bank NewsSwitzerlandEuropean Central BankCEEMEAEurozoneBriefStoryRegion
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