tag:blogger.com,1999:blog-6704573462403312459.post8982000703062380701..comments2024-03-28T06:53:23.473-04:00Comments on Moneyness: Should central bankers be afraid of crypto?JP Koninghttp://www.blogger.com/profile/02559687323828006535noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6704573462403312459.post-3928965128356454432022-01-03T10:57:43.995-05:002022-01-03T10:57:43.995-05:00Hi Rob.
In answer to your question, I don't t...Hi Rob.<br /><br />In answer to your question, I don't think so. While a stablecoin could certainly index itself to an exotic unit of account, the hurdles to adoption would be huge (much like Esperanto!). We speak in an economic language of prices that we have learnt when we are young. No one wants to switch over to a new language.<br /><br />I got into this in more detail here:<br /><br />https://jpkoning.blogspot.com/2019/06/esperanto-moneys-interval-of-certainty.html JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-91856015031758420252022-01-03T10:02:15.036-05:002022-01-03T10:02:15.036-05:00I have a question:
If a stable coin pegged itself...I have a question:<br /><br />If a stable coin pegged itself not to the existing unit of account but (for example) to the value of a basket of goods then (especially if the CB started to raise or miss its inflation target) could such a stable coin credibly be a candidate to replace the existing unit of account and undermine monetary policy ?Rob Rawlingsnoreply@blogger.com