Digital Currencies, Decentralized Ledgers, and the Future of Central Banking

Abstract

The authors thank Daniel Alter, Michael McConnell and Geoffrey Miller for helpful comments. Part of this research was completed while Yermack was a visiting professor at Erasmus University Rotterdam. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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