The implications of crypto-assets, emerging payment technologies and Facebook’s plans to create a global digital currency, Libra – discussed by our host, Michael Steen, and guests, Dirk Bullmann, Maria Teresa Chimienti, and ECB Executive Board member Benoît Cœuré. 

Recorded on 6 and 9 September 2019.


In this episode:

(01:03) Benoît Cœuré 
The big picture: what is money, why is there a demand for digital currencies and what is the role of central banks in this field?

(11:47) Maria Teresa Chimienti
Getting technical: what are crypto-assets, what makes Facebook’s Libra different, and why is it important for central banks to research these phenomena?
  
(17:32) Dirk Bullmann
Talking innovation: what is blockchain and DLT, why are they so fascinating and how does innovation at the ECB help make payments instant?


Further reading:

Explainer: What is money?
https://www.ecb.europa.eu/explainers/tell-me-more/html/what_is_money.en.html

Explainer: What is bitcoin?
https://www.ecb.europa.eu/explainers/tell-me/html/what-is-bitcoin.en.html

Explainer: How could new technology transform financial markets?
https://www.ecb.europa.eu/explainers/tell-me-more/html/distributed_ledger_technology.en.html

Research – special feature: Distributed Ledger Technology (e.g. blockchain)
https://www.ecb.europa.eu/pub/annual/special-features/2016/html/index.en.html

Research – Occasional Paper:  Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures
https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op223~3ce14e986c.en.pdf

Research – Economic Bulletin Article:  Understanding the crypto-asset phenomenon, its risks and measurement issues
https://www.ecb.europa.eu/pub/economic-bulletin/articles/2019/html/ecb.ebart201905_03~c83aeaa44c.en.html

European Central Bank website
https://www.ecb.europa.eu/

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Innovation in payments: Libra, blockchain and crypto-assets

The European Central Bank Podcast – bringing you insights into the world of economics and central banking. 

Our hosts Paul Gordon and Stefania Secola talk to experts about the topics and trends that matter to the eurozone economy today.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Innovation in payments: Libra, blockchain and crypto-assets

The ECB Podcast