A Historical Perspective on Digital Currencies

Huberto Ennis, Zhu Wang and Russell Wong

Richmond Fed Economic Brief, 2022, vol. 22, issue 21

Abstract: This article reviews private currencies in U.S. history to shed light on the contemporary issue of digital currencies. This perspective suggests that government interventions have a critical role in creating a well-functioning money and payments system. Particularly, a central bank digital currency (CBDC) can be a useful tool to supplement regulation in addressing long-standing concerns and risks associated with private currencies.

Keywords: digital currencies; bitcoin; private currency; Central Bank Digital Currency (search for similar items in EconPapers)
Date: 2022
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