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Understanding Crypto 3: Eswar Prasad: Bitcoin, Banking, and the Future of Money

The Rational Reminder Podcast

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Putting Your Ultimate Trust in the Government

Eah proper sidestepped a question on whether unofficial currencies could affect the ability of central banks to implement monetary policy. He said even with de centralized finance, we're going to be able to get away from needing an authority that you can place your ultimate trust in - which might be the government. The federal reserve bank of boston and m i t has come out with a central bank digital currency paper project hamilton. But for reasons i mentioned earlier, the block technology is hopelessly inefficient in terms of being scaled up to manage a large volume of retail transactions. That technology underlying cbd c is going to be quite different from that underlying crypto currencies.

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