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A minting mold for the eFranc

In: The Elgar Companion to Decentralized Finance, Digital Assets, and Blockchain Technologies

Author

Listed:
  • Hans Gersbach
  • Roger Wattenhofer

Abstract

We suggest a blueprint for an eFranc as a possible complement for the Swiss monetary system to ensure the long-term stability of its money. An eFranc is a non-interest-bearing digital form of the legal tender available to the public. The public can convert banknotes or part of its bank deposits into eFrancs, subject to the banks’ ability to obtain the corresponding amount of eFrancs from the central bank. There is free conversion of eFrancs into bank deposits (and into banknotes). For the technical implementation of the eFranc, we suggest a two-layer system combining a permissioned asynchronous blockchain without consensus which provides a secure environment for validating transactions (base layer) plus a peer-to-peer payment network (top layer).

Suggested Citation

  • Hans Gersbach & Roger Wattenhofer, 2024. "A minting mold for the eFranc," Chapters, in: Henrik Cronqvist & Desiree-Jessica Pely (ed.), The Elgar Companion to Decentralized Finance, Digital Assets, and Blockchain Technologies, chapter 7, pages 127-146, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:22115_7
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035307760.00012
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