As the digitalization of the economy accelerates, protecting privacy is essential. In this regard, MIT Digital Currency Initiative is launching a collaboration with researchers at the Deutsche Bundesbank, the central bank of Germany, to investigate privacy-preserving designs for central bank digital currency.
On April 16, Dr. Joachim Nagel, President of the Deutsche Bundesbank, the central bank of Germany, visited the MIT Media Lab. There, he announced this new collaboration between the Bundesbank and the MIT Digital Currency Initiative (DCI) for central bank digital currency design research.
During a speech and fireside chat with Dr. Neha Narula, director of the MIT Digital Currency Initiative (DCI), Dr. Nagel discussed why the euro area is considering a digital currency, the importance of users retaining control of their personal data, and what technological and policy challenges the European Central Bank must surmount in order to consider the issuance of a new form of public money. He also shared insights on proposals to issue a digital currency for the euro area of the European Union in his speech entitled the “Digital Euro: Vision, Advancements, and Challenges.”
This event was co-hosted by the MIT Digital Currency Initiative and the MIT Golub Center for Finance and Policy and was attended by MIT students, faculty, and staff.
You can find more information about the DCI and Bundesbank’s new collaboration here and a copy of Dr. Nagel’s speech here.