Book notes: Redefining the monetary standard in the digital age: digital innovations and the future of monetary policy, by Livio Stracca
A comprehensive and readable account of what digitalisation could mean for monetary policy
This book is a comprehensive, very readable account of what digitalisation could mean for monetary policy and central banking. Drawing on current academic work and Livio Stracca’s experience as a senior central bank official, it explains the core roles of money – as a unit of account, means of exchange and store of value.
The book is especially strong on central bank digital currencies (CBDCs), the disappearance of cash (it argues it remains the best backup), tokenisation, blockchains/DLT, DeFi
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