This unit introduces Central Bank Digital Currencies (CBDCs). As central banks begin to launch CBDC pilots, this unit hypothesizes their potential place in a future monetary system. It specifically looks at CBDC development in China, Europe, and the US. This unit will also place Bitcoin, digital assets, and CBDCs in the context of each other. It discusses how atomic swaps and jurisdictional arbitrage might shift the monetary landscape.
Completing this unit should take you approximately 1 hour.
This subunit explains the origin of alternative cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs) as a second layer of money alongside other central bank liabilities. It explains the differences between wholesale CBDCs and retail CBDCs, and how each might affect the monetary system. It looks at the ECB's digital euro, China's digital renminbi, and the Federal Reserve's digital dollar projects.
This section covers stablecoins, cryptocurrencies, and central bank digital currencies (CBDCs).
This subunit explores Bitcoin, CBDCs, and stablecoins, and their potential role in the future of monetary systems.
Read this section about the potential effects of Bitcoin, cryptocurrencies, stablecoins, and CBDCs on the international monetary system.
In this video, Niall Ferguson explores the history and evolution of money to demonstrate its mechanics and how it has shaped the world.
Watch this conversation with Michael Saylor, Chairman & CEO of MicroStrategy, about Bitcoin, inflation, and the future of money, information, and energy.
This video walks through the major topics we covered in Unit 7. As you watch, consider the place that Bitcoin, digital assets, and CBDCs have in the context of each other.
Take this assessment to see how well you understood this unit.