🏦 3 models for central bank money onchain, named by the ECB
ECB Executive Board member Isabel Schnabel laid them out at the Bank of England's conference in London. First: the central bank issues reserves straight onto a programmable platform. Second: today's settlement system stays and a separate layer links it to DLT venues, with the reserves left untokenised. Third: reserves are tokenised and settlement tokens fully backed by them go into circulation, which makes them private claims rather than claims on the central bank. The two-tier structure survives in all three.
#regulation
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ECB Executive Board member Isabel Schnabel laid them out at the Bank of England's conference in London. First: the central bank issues reserves straight onto a programmable platform. Second: today's settlement system stays and a separate layer links it to DLT venues, with the reserves left untokenised. Third: reserves are tokenised and settlement tokens fully backed by them go into circulation, which makes them private claims rather than claims on the central bank. The two-tier structure survives in all three.
#regulation
📈 Bybit — up to $30,000 in bonuses · affiliate link
🔗 My channels: Youtube • X • Site