With the impending ‘death of cash’ and the rise of digital currencies (such as Bitcoin), there are strong arguments for central banks to start issuing “digital cash” – an electronic version of notes and coins.
Done well, such digital cash might create additional purchasing power and stimulate the sluggish economy.
But this raises a number of questions: how would central banks get new digital cash into the economy, and how would the public use it? Would there be any impact – positive or negative – on financial stability?
Ben Dyson is the co-author of Modernising Money: Why our monetary system is broken and how it can be fixed. He argues that a design flaw in the banking system, which allows banks to effectively create more than 97% of the money that our economy runs on, is responsible for the financial crisis, unaffordable housing and the government’s reliance on unsustainable debt-fuelled growth.
The proposals were recently featured in the Financial Times. Ben is the founder and Head of Research at Positive Money, a campaign for a banking system that works for society.
5pm to 7pm, 13th April 2016 (talk starts 530pm)
London Campus of the University of Cumbria
58 East India Dock Road, London E14 6JE
Nearest DLR station: Westferry Road
Places are limited so book ahead via email@example.com
This lecture organised by IFLAS is given as part of the residential of the Certificate of Achievement in Sustainable Exchange and also provides an opportunity for participants in the Money and Society free online course to meet each other.