Building the New Economy by Alex Pentland;Alexander Lipton;Thomas Hardjono;

Author:Alex Pentland;Alexander Lipton;Thomas Hardjono;
Language: eng
Format: epub
Publisher: MIT Press

8.9 CONCLUSIONS

In this chapter, we have outlined an efficient framework that can be used to extend the domain of applicability of the FBDC from an initial group of bank sponsors to a much wider group of potential users, including SMEs. We have argued that a purpose-built NB is necessary (and, we hope, sufficient) to achieve this goal. It can be used not only to securely hold collateral but also to solve the all-important KYC/AML problem. The FBDC, being a stable cryptocurrency, can facilitate both domestic and foreign trade and offer numerous possibilities for streamlining and facilitating commercial and retail transactions.

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