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Central Banks Get into the Act

In: The Bitcoin Dilemma

Author

Listed:
  • Colin L. Read

    (SUNY Plattsburgh)

Abstract

SatoshiNakamoto, Satoshi shared with the cypherpunks a mistrust in large financial institutions, especially central banks. In the late 2000s, many feared both a severe inflation arising from intense run-ups in asset and commodity prices, and observed an inability of the Federal ReserveFederal Reserve and other central banks to prevent the Great RecessionGreat Recession. Despite Satoshi’s concerns, central banks of major nations around the world are currently exploring the possibilities in sponsoring Central BankCentral Bank Digital Currencies (CBDCsCentral Bank Digital Currencies (CBDC)). ChinaChina, CanadaCanada, the European UnionEuropean Union, and the United StatesUnited States (US) have all published white papers or statements on their research of a domestic government-sponsored Stablecoin

Suggested Citation

  • Colin L. Read, 2022. "Central Banks Get into the Act," Springer Books, in: The Bitcoin Dilemma, chapter 0, pages 249-255, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-09138-4_23
    DOI: 10.1007/978-3-031-09138-4_23
    as

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