Fed's Bostic: CBDC raises a host of questions about privacy and authority

Author: Adam Button | Category: Central Banks

Bostic on central bank digital currencies

  • Central banks would need to figure out how to create a digital currency with a secure and predictable value
  • In the US, many people would be upset by the notion that the Fed could track how they use their funds
I don't understand how creating a predictable value is a challenge. Just tie it to the US dollar 1:1. That's the least-difficult problem to solve.

In terms of privacy, what I think happens is that there are strong initial controls that are eroded over time.

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