Federal Reserve Bank of Richmond Publishes Paper on Bitcoin
The Federal Reserve Bank of Richmond has published an interesting paper surround bitcoin and digital currencies (which they refer to as 'private currencies') as a whole. "At first glance, bitcoins lack the inherent value of government authority to get them off the ground as an accepted currency," the paper states. "But in surprising ways, they resemble the gold and silver coins of ancient times." The report goes on to state most of what we've been reporting, quite frankly. Uncertain regulation reminiscent of the early days of the Internet, in which many people had no idea how laws applied,....
Related News
Source: CNBC. In an appearance on CNBC, Richmond Federal Reserve president Jeffrey Lacker noted that the fed simply doesn't have any interest in stopping bitcoin. Lacker calls the digital currency "private money" and doesn't see why the fed should have to do anything about it. "They're going to have trouble gaining market share if its value's going to fluctuate so much, but it'll be interesting to watch," said Lacker. "It's a free market and I don't see why they have an interest in stopping it." But some may question the authenticity of such statements. Does the fed really not care to do....
It doesn’t take much investigation to see that the establishment, the global financial elite including the U.S. Federal Reserve, are very impressed with the technology that Bitcoin has brought to bear. Every major corporation, brand, tech firm, even nations are spending thousands of man-hours researching and building mock-ups of Bitcoin’s blockchain technology. Blockchains, or “distributed ledger technology” (DLT) is ‘the next big thing’ in mainstream tech, and the U.S. Federal Reserve is no exception. They published a research paper about DLT yesterday. The Biggest Dog in the Yard Has....
A multi-disciplinary research team from the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Federal Reserve Bank of Chicago, after conducting interviews with “approximately 30 key industry stakeholders, including market infrastructures, financial institutions, other government agencies, technology start-ups, more-established technology firms, and industry consortia,” stated in a recently published paper that, although it is unlikely, the “use of banks to conduct payments could become obsolete,” by the use of blockchain technology. The....
The Federal Reserve has published new research on distributed ledger tech. The paper, which explores applications of the technology in payments and transaction settlement, was drafted by teams from the Federal Reserve Board as well as the Federal Reserve Banks of New York and Chicago. Though research has been published in the past by members of the Federal Resrve system, most notably the Federal Reserve Banks from Boston and Chicago, the paper's release represents the first major release from the Federal Reserve Board. Overall, the research casts a wide net, including both a top-down view....
Cryptography enthusiasts aren't the only ones talking about bitcoin. This emerging digital currency has caught the attention of many different institutions, of which now includes the Federal Reserve Bank of Boston. Entitled 'Bitcoin as Money?' (direct link to document), the 28-page paper discusses a number of topics related to the digital currency, from an overview to the future of this payment system. Boston Fed Bitcoin Paper. I won't spend a lot of time going over the document for two reasons: the first is that the document is embedded above. The second is that I'm still going through it....