Exaggerated worries over dollar demise, DLT and its potential use for CBDC
Friday 14 August 2020 Vol.11 Ed.33.6
Commentary: Dollar’s well-entrenched reserve status
By Mark Sobel in Washington
August has brought a profusion of excited commentary on the dollar and foreign exchange markets. Some reports suggested the greenback was in a free fall. Others conjured up the longer term – a sharp downward move raises questions that go to the heart of the global financial system and the dollar’s role. These stories are deeply exaggerated. The US underpinnings for the currency’s reserve status remain well-entrenched.
Read the full commentary on the website.
Vijak Sethaput, senior developer for the Bank of Thailand’s Project Inthanon, and Sky Guo, chief executive officer of Cypherium, join Chris Ostrowski, commercial director at OMFIF, to discuss the Bank of Thailand’s digital currency experiment. They talk about how blockchain can influence CBDC design choices and enable interoperability. Further topics include how a distributed system could solve liquidity issues between commercial banks, and whether central banks will adopt new infrastructure for cross-border payments.
Listen to the recording, or search ‘OMFIF’ on your smartphone’s podcast app.