The Federal Reserve Bank of Philadelphia has published a paper titled, Central Bank Digital Currency: Central Banking for All?; in this paper the authors put forward the idea that central banks may become “deposit monopolists”, dramatically impacting the operations of commercial banks that rely on deposits as a cheap source of capital; it could mean that the central bank will compete with these banks for deposits and that consumers and businesses could hold their deposits directly with the central bank; the report makes many assumptions that may or may not come true but it provides for an interesting initial take on central bank digital currencies. CrowdFund Insider
