Ben Dyson

Ben Dyson

London Area, United Kingdom
3K followers 500+ connections

About

Economist & technologist specialising payment systems, digital currencies, cryptoassets…

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Publications

  • Broadening Narrow Money: Monetary Policy with a Central Bank Digital Currency

    International Journal of Central Banking

    This paper discusses central bank digital currency (CBDC) and its potential impact on the monetary transmission mechanism. We first offer a general definition of CBDC which should make the concept accessible to a wide range of economists and policy practitioners.We then investigate how CBDC could affect the various stages of transmission, from markets for central bank money to the real economy. We conclude that monetary policy would be able to operate much as it does now, by varying the price…

    This paper discusses central bank digital currency (CBDC) and its potential impact on the monetary transmission mechanism. We first offer a general definition of CBDC which should make the concept accessible to a wide range of economists and policy practitioners.We then investigate how CBDC could affect the various stages of transmission, from markets for central bank money to the real economy. We conclude that monetary policy would be able to operate much as it does now, by varying the price or quantity of central bank money. Transmission may even be strengthened for a given change in policy instruments.

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  • Bank of England: Central Bank Digital Currencies - opportunities, challenges and design

    Bank of England

    The Bank of England's first discussion paper on Central Bank Digital Currencies.

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  • Can 'stablecoins' be stable?

    Bank Underground

    Cryptoassets (or ‘cryptocurrencies’) are notoriously volatile. For example, in November 2018, Bitcoin – one of the more stable cryptoassets – lost 43% of its value in just 11 days. This kind of volatility makes it difficult for cryptoassets to function as money: they’re too unstable to be a good store of value, means of exchange or unit of account. But could so-called ‘stablecoins’ solve this problem and finally provide a price-stable cryptoasset?

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  • Broadening Narrow Money: Monetary Policy with a Central Bank Digital Currency

    Bank of England

    This paper discusses central bank digital currency (CBDC) and its potential impact on the monetary transmission mechanism. We first offer a general definition of CBDC which should make the concept accessible to a wide range of economists and policy practitioners. We then investigate how CBDC could affect the various stages of transmission, from markets for central bank money to the real economy. We conclude that monetary policy would be able to operate much as it does now, by varying the price…

    This paper discusses central bank digital currency (CBDC) and its potential impact on the monetary transmission mechanism. We first offer a general definition of CBDC which should make the concept accessible to a wide range of economists and policy practitioners. We then investigate how CBDC could affect the various stages of transmission, from markets for central bank money to the real economy. We conclude that monetary policy would be able to operate much as it does now, by varying the price or quantity of central bank money, and that transmission may even strengthen for a given change in policy instruments.

    See publication

Projects

  • Nexus - a blueprint for cross-border payments

    This project provides a blueprint for a scalable cross-border payments network, Nexus, that would connect instant payment systems (IPSs) in multiple countries, enabling them to offer cross-border payments that reach their destination within 60 seconds.

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