Dear all Publish0x people :) 

I have written a policy paper for African Institute for Decentralised Finance and Blockchain (AIDBLOCK) regarding cryptocurrencies and international financial institutions such as the IMF, BiS, and G20. 

At the moment, I am in the process of finalizing a new paper focusing on crypto and public monetary policies regarding central banks, governments, and CBDCs. 

In their paper, "The Potential Effects of Cryptocurrencies on Monetary Policy," academics Nenad Tomich, Violeta Todorovich, and Bozhidar Chakajac delve into the implications of cryptocurrencies and CBDCs for central banks and the global economy. According to them, cryptocurrencies, underpinned by decentralized blockchain technology, challenge central banks and their ability to influence economic activity through traditional monetary policy tools. The widespread adoption of cryptocurrencies could decrease the demand for central bank money, ultimately reducing the effectiveness of these tools.

The paper highlights how central banks rely on controlling the money supply and interest rates to manage economic activity. As cryptocurrencies become more prevalent, this control may diminish, leading to potential issues in executing monetary policy. The authors argue that central banks must adapt to the shifting financial landscape and prepare for the challenges that cryptocurrencies pose to their conventional methods. They argue that central banks and policymakers should closely monitor and regulate the development and adoption of digital currencies to ensure financial system stability and maintain the effectiveness of monetary policy.

The authors also discuss the potential benefits of CBDCs, such as increased efficiency, lower transaction costs, and the retention of central bank control over the money supply. However, they also emphasize the potential risks and challenges associated with CBDCs.

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