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World’s Central Bank: Crypto Could Risk Bank Runs
2018-03-13T20:45:31Z - / Hacker News
1.6k SHARES Share TweetHow many central banks are actually considering their own version of cryptocurrency is unclear, Russia and Venezuela being the most infamous examples. Commercial banks’ reliance on customer deposits may become less stable, as deposits could more easily take flight to the central bank in times of stress. Currently proposed implementations for wholesale payments – designed to comply with existing central bank system requirements relating to capacity, efficiency and robustness – look broadly similar to, and not clearly superior to, existing infrastructures. Too much “general purpose” crypto, even state backed, would destabilize economies, but that doesn’t mean more obviously efficient aspects of the technology shouldn’t be employed as a settlement layer behind the scenes, central bank to central bank. Summary Reviewer Michael Bennet Review Date 2018-03-13 Reviewed Item World’s Central Bank: Crypto Could Risk Bank Runs Author Rating 5

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