Economics
Some Central Banks Are Exploring the Use of Cryptocurrencies
- Dartmouth’s Levin says small businesses, consumers to benefit
- PBOC, BOE, Vietnam central bank among those exploring options
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In a world were financial transactions are largely electronic, central banks are exploring the idea of using virtual currencies, even as cyberattacks and price swings dominate the headlines.
"The central bank digital currency would be like a paper bill except digital," Dartmouth College economics professor Andrew Levin said in an interview on Bloomberg Television. For example, "it would be representing a U.S. dollar, but it would be basically free to use."