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On Fri 20 Apr 2018, SoylentNews published four criteria for analog currency and four criteria for digital currency.
On Mon 18 May 2018, Bank of England Staff Working Paper Number 725 by Michael Kumhof [former Stanford University economics professor] and Clare Noone [former Reserve Bank of Australia staffer] published four criteria for a Central Bank Digital Currency [CBDC]:
The core principles are: (i) CBDC pays an adjustable interest rate. (ii) CBDC and reserves are distinct, and not convertible into each other. (iii) No guaranteed, on-demand convertibility of bank deposits into CBDC at commercial banks (and therefore by implication at the central bank). (iv) The central bank issues CBDC only against eligible securities (principally government securities).
I'm not sure these count as four distinct criteria or that they are strong enough to be useful.
(Score: 2) by crafoo on Sunday June 03 2018, @09:43PM (1 child)
(iv) The central bank issues CBDC only against eligible securities (principally government securities)
Oh boy! Of course this will be based on the global theft of value scam, Fractional Reserve Banking, implemented by the private "federal" banks in all participating countries.
Let's return to government-issued money and strip the private global banking cabal (including the federal reserve) of their universal-theft policies. You know, like JFK attempted to do in June 1963, slightly before he got a bullet fired through his skull later that year.
(Score: 0) by Anonymous Coward on Monday June 04 2018, @05:47PM
yeah, the same slaves who hold ripple will probably buy this SlaveCoin too. i disagree with returning to gov issued money though. we don't need governments anymore.