Digital Currency or Digital Control?: Decoding CBDC and the Future of Money

Anthony, Nicholas

ISBN 10: 1964524385 / ISBN 13: 9781964524382

Published by Cato Institute, 2024

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Bibliographic Details

• Title: Digital Currency or Digital Control?: Decoding CBDC and the Future of Money
• Publisher: Cato Institute
• Publication Date: 2024
• Language: English
• ISBN 10: 1964524385
• ISBN 13: 9781964524382
• Binding: Soft cover
• Condition: New

About this title

Synopsis

Central bank digital currencies (CBDCs) are on the rise. In an attempt to reinvent money as we know it, central bankers and other policymakers around the world are currently researching, developing, and launching CBDCs. The prospect has caught the attention of the president of the United States, Congress, international institutions, and government contractors, but the public has largely been left out of this development. That needs to change.

CBDCs are not simply "another form of money." Rather, CBDCs pose significant risks to financial privacy, freedom, and markets. Furthermore, CBDCs would open the economy to new cybersecurity risks while also jeopardizing the function and independence of central banks themselves. Yet, what is probably worst of all is that CBDCs fail to offer any unique benefits that offset these costs and justify the government's intervention in the market.

In Digital Currency or Digital Control, monetary and financial economic expert Nicholas Anthony provides everything you need to get up to speed on CBDCs so that you can know what is at stake. From the myths of CBDC benefits to the threats posed by CBDC risks, this book will help you decode what CBDC means for the future of money.

About the Author

Nicholas Anthony is a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives and a fellow at the Human Rights Foundation (HRF). Anthony's research covers a wide range of topics within the field of monetary and financial economics, including central bank digital currencies (CBDCs), financial privacy, cryptocurrency, and the use of money in society. He has testified before Congress, and his work has been published at the American Institute for Economic Research and in the Wall Street Journal, MarketWatch, Business Insider, and numerous other outlets. Anthony also maintains the HRF CBDC Tracker, which documents CBDC development and civil liberties concerns around the world.Originally from Baltimore, Anthony received a BS in economics and business administration from Towson University and an MA in economics from George Mason University.