Plus: Monetising Exhaust Fumes, Remutualisation, Bank Lending
\nMarc Rubinstein, Oct 30, 2020
\nhttps:\/\/netinterest.substack.com\/p\/the-politics-of-money
\nSo what is a central bank digital currency? It\u2019s electronic, it exists as a digital object, and it\u2019s backed by a central bank. So it\u2019s like cash, except it\u2019s electronic; and it\u2019s like Bitcoin, except it\u2019s central bank backed.
\nIf it sounds a bit abstract that\u2019s because it is. Central bank digital currencies aren\u2019t yet in wide circulation. But in China, they\u2019ve started testing them. Earlier this month 50,000 residents in the city of Shenzhen were each given RMB200 in digital currency in a kind of helicopter money lottery. Two million people applied to take part and the successful few were credited the money in an app-based digital wallet, with scope to spend it in over 3,000 local retail outlets. This follows pilot schemes in what now amounts to four cities across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
Plus: Monetising Exhaust Fumes, Remutualisation, Bank Lending Marc Rubinstein, Oct 30, 2020 https:\/\/netinterest.substack.com\/p\/the-politics-of-money So what is a central bank digital currency? It\u2019s electronic, it exists as a digital object, and it\u2019s backed by a central bank. So it\u2019s like cash, except it\u2019s electronic; and it\u2019s like Bitcoin, except it\u2019s central bank backed. If it sounds […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,7],"tags":[],"class_list":["post-5390","post","type-post","status-publish","format-standard","hentry","category-research-topics","category-international-economics"],"_links":{"self":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/5390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5390"}],"version-history":[{"count":1,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/5390\/revisions"}],"predecessor-version":[{"id":5391,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/5390\/revisions\/5391"}],"wp:attachment":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}