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September 24, 2018

Are cryptocurrencies dying?

It is no secret that 2018 is proving to be a difficult year for the value of cryptocurrencies. After reaching a maximum historic value at the beginning of January, with an aggregate theoretical market value of $814,000 million, the price of almost all of them has collapsed, losing up to 75% of their maximum level. Are we …

April 23, 2018

Are cryptocurrencies an option for Latin America’s central banks?

The issue of cryptocurrencies such as bitcoin and ether, among many others, has been increasing in recent years. Their use has been driven by the wish to use a decentralised currency that is not controlled by a central bank. Paradoxically, the technological development that made it popular is also within reach of the author…

April 6, 2018

Central Bank Digital Currencies in LatAm

We identified the most relevant factors for the implementation of a CBDC in LatAm, under different designs. We concluded that the region could benefit more from the adoption of a CBDC than developed countries. However, the existence of costs associated with implementation casts uncertainty on where it will be adopted first.

January 15, 2018

Cryptocurrencies: revolution or speculation?

On 11 December last, Bitcoin started trading on the Chicago futures market (CBOE), and its value rose to more than US$15,000 in the first few days. These events have fuelled the debate about cryptocurrencies. Are we dealing with a revolution with firm foundations or a passing fever?

October 13, 2017

U.S. | Blockchain: The Road to Utopia

Non-financial blockchain applications are growing exponentially. Transaction costs will decline considerably, thereby impacting the role of intermediaries. The blockchain is expected to set the basis for better economic, social and political systems
  • Geography Tags
  • USA

September 25, 2017

Central banks-issued digital currencies: a challenge to the financial system

Digital currencies, and more specifically, the so-called cryptocurrencies (currencies issued and administered by decentralised networks using cryptographic protocols), such as Bitcoin, first emerged almost a decade ago.

May 8, 2017

Towards a cashless world?

Various recent studies have explored the possibility of central banks issuing virtual currencies similar to Bitcoin to replace banknotes. Until now it has been technically impossible to create “digital cash” that is exchangeable anonymously among peers and without intermediaries, like banknotes.

December 13, 2016

Blockchain in financial services: Regulatory landscape and future challenges

Distributed ledger technologies (DLTs), including blockchains, are increasingly getting a massive interest from established industries. The interest is especially strong among financial services firms, which are starting to see DLTs as a potential driver of huge savings in infrastructure and back-office processes.