Publications

[CBRI] The advent of CCSU and DMU and its relationship to China’s Belt and Road Initiative

This paper analyzes the recent development of an inter-regional CBDC project, named m-CBDC Bridge, under the quasi-initiative of the People’s Bank of China, and the advent of CBDC Currency Swap Unions (CCSU). Furthermore, the author emphasises the relationship of m-CBDC Bridge with China’s Belt and Road Initiative from International Relations (IR) and Geopolitical perspectives. The author concludes that the CCSU created by m-CBDC Bridge aims to replace the traditional monetary union model, that similar to the European Union (EU), and would eventually be implemented as China’s Digital Monetary Union (DMU).


Keywords: Central Bank Digital Currency; CBDC; Blockchain; Cryptocurrency; interoperability; CBDC Currency Swap Unions (CCSU); fragmentation; Digital Monetary Union (DMU)

[CBRI] The dichotomy between CBDC and NFT in the blockchain industry : Public and private use case

This paper analyzes recent developments in the blockchain industry, respectively CBDC as the public sector initiative of blockchain and NFT as solicited by the private sector. The public sector initiative CBDC serves to introduce blockchain technology in the public area to replace the the traditional central bank’s scope of work of minting money with the technological novelty that blockchain provides, whereas the private sector initiative NFT serves to introduce blockchain technology in the private area to replace the traditional idea of ownership in a digitalised and tokenised form. Both cases present a strong use-case of blockchain technology, however, with different focal points. This paper introduces the dichotomy between the use of blockchain technology in both the public and private sectors, and highlights both the commonalities and differences between the two approaches.


Keywords: Central Bank Digital Currency; CBDC; Blockchain; Cryptocurrency; NFT; Tokenisation of rights; fragmentation

[CBRI] The era of low bank rate : is it the best time for conversion towards CBDC?


This paper analyzes the recent US monetary policy stance towards maintaining low bank rates in order to address a prompt recovery from the pandemic. The paper suggests that the low bank rate era could be an optimal time for conversion towards CBDC given that (i) digital currency offers an advantage due to its speedy nature and cost effectiveness, and (ii) its introduction is timely in periods of low bank rates since it would be less costly for the U.S. government to implement the paradigm shift.


Keywords: Central Bank Digital Currency; CBDC; Blockchain; Cryptocurrency; Low bank rate; US COVID-19 Stimulus package; Federal Reserve; Digital Dollar

[CBRI] Devising Cryptocurrency-based foreign exchange markets’ and its forex market interruption

This paper analyzes the recent development in the blockchain industry in building a bridge between different economies’ foreign exchange markets through instant, democratized capital transfer combined with the exchange of money via blockchain and cryptocurrency. It also points out that the foreign exchange markets and cryptocurrency-based foreign exchanges currently co-exist in parallel one with another, and would need .



Keywords: Store of value, foreign exchange markets, blockchain, synthetic commodity monies

[NASDAQ] Why U.S. Corporate Borrowing is Surging Ahead of an Anticipated Economic Recovery

Espae Hong, Head of CBDC Blockchain Research Institute (CBRI) and Legal Advisor at Cypherium a decentralized smart contract platform for creating and connecting dApps, CBDCs, and Digital Assets.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.