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IT progress and its application to the financial industry have inspired central banks and academics to analyse the merits of central bank digital currencies (CBDC) accessible to the broad public. This paper first reviews the advantages and risks of such CBDC. It then discusses two prominent...
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Chapter 1. Introduction -- Chapter 2. Two forms of the unknown -- Chapter 3. The economics of external shocks -- Chapter 4. The traditional way to do it -- Chapter 5. The real tragedy of the commons -- Chapter 6. Upgrading the system -- Chapter 7. The great leverage -- Chapter 8. Three...
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