Cryptocurrencies are in the midst of a breakout year. The price of Bitcoin has risen more than 300% year to date, while Ethereum is up more than 3,000%. Oh, and the amount of money raised by initial coin offerings (ICO) recently surpassed that raised by early-stage venture capital funding. With all this hype, the Bank for International Settlements (BIS), in a recently published paper, explores the question of what a central bank cryptocurrency (CBCC) might look like.
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