A new paper from the Federal Reserve Bank of NY on the innovation and money published this month (link below).
Staff Paper
The paper argues for 3 main points:
- The underlying principles for the implementation of programmability for tokenized money
- The distinction between programmable payments and programmable money made by academics and policymakers alike is blurry at best - how excatly are programmable payments different from programmable money?
- A framework is proposed that allows to distinguish more precisely between programmable payments and programmable money
- Todor
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Todor Kostov
Director
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