Thread by @ChainLinkGod

Next up in #SmartCon is a CBDC panel with academic researchers Philipp Sandner, Ariel Zetlin-Jones, Andrew Miller, and Eugene Leventhal

Put together by @SCRForum

smartcontractresearch.org/t/623

Andrew Miller: Co-authored at IC3 a paper on design choices for CBDCs, programming interfaces, privacy

What is a CBDC?

developers perspective: central operated currency by central banks, uses blockchain technology

Ariel: Zetlin-Jones: Focused on financial market regulation, blockchains disrupting economic markets, interaction between monetary policy and CBDCs changing payment system

What is a CBDC?

Critical distinction, only accessible by institutions or retail consumers?

Philip: Full time team on blockchains, investigating tokens types, utility, payment, investment, etc, studied business and compsci

What is a CBDC?

Digital modern ledger where a central bank re-establish direct relationship to customer, blockchain tech makes sense here

Founder of SCRF @richatlarge, previous head of community at @MakerDAO

Philip:

Direct CBDC: direct access to central bank, online app
Hybrid CBDC: Central bank supplies money but relies on banks and payment providers for users to access

Discussion in Germany to supply companies with digital currency and smart contract systems

Ariel: Central bank provide currencies and reserves to commercial banking, when central banks have a CBDC, it's accessible to consumers

Right now intermediates are payment processers and credit

Direct CBDCs could disintermediate commercial banks

Andrew: CBDCs can be built on public blockchains like those with PoS, crypto benefits even with centrally administered database is auditability and transparency of records

Rich: blockchain disintermediate, CBDCs re-intermediate, but provide greater transparency and auditability, trading banking turns into a Fintech model?

Philip: If governments require KYC/AML, then somehow has to do this, blockchain that you have one ledger, multiple assets on the ledger, with money and central banks, they have silos and clearinghouse, with a CBDC, then it can all happen in one platform, no clearinghouse

Ariel: Risk of interoperability in regards to independent control of monetary policy

Andrew: Clean slate design, nothing baked in, flexible, privacy mechanisms today aren't result of design but happen stance

Sorry frens, missed much of this panel, the panel will be recorded