ICYMI: Full Reserve Banking, “Narrowbanks” and the China Model

ICYMI: Full Reserve Banking, “Narrowbanks” and the China Model

ICYMI: Full Reserve Banking, “Narrowbanks” and the China Model

The Money Movement

Catch our Special Edition of the Money Movement, Episode 4: Full Reserve Banking, “Narrowbanks” for Digital Currency and the China Model below or take a listen to the podcast on Spotify or Apple Podcasts.

 

In this Episode, we covered a lot of ground, including a conversation with The Bank of England’s Michael Kumhof will joined to discuss his work on Full Reserve banking and digital currency models. We discuss his The Chicago Plan Revisited, where he argued that had the US adopted a full reserve banking model, as proposed by the Chicago Plan during the Great Depression, the US would have seen both higher output, fewer recessions and lower levels of debt. And we connect the dots between this and new models of central bank money digital currencies, including proposals he has put forth with the Bank of England.

We then moved to a discussion with the IMF’s Tommaso Mancini-Griffoli, who serves as Deputy Division Chief in the Monetary and Capital Markets Department. Tommaso has been a global thought leader on models of digital currency and stablecoins and their impact on the banking sector, regulatory frameworks and the international monetary system.  Tommaso and Allaire discuss the proposed creation of “narrow banks”, a new form of chartered national bank whose purpose would be to hold full reserve assets with central banks as part of a system of issuing stablecoins or central bank sponsored digital currency. 

Finally, we move on to China and their new DCEP digital currency initiative that introduces the world’s largest real full reserve banking model applied in the digital realm. We were joined by noted Chinese economist and Associate Research Fellow for the People's Bank of China, Dr. Chuanwei David Zou, Chief Economist at Wanxiang Blockchain, who has published extensively on DCEP and breaks down DCEP, its basic structure and functions, and some of the broader long-term implications for how the world economy will transact with China using digital currency.


On Thursday, catch Episode 5: The Future of Corporations in the Age of Blockchains where we'll dive into some of the more profound possibilities that arrive with public blockchain infrastructure, exploring the very essence of how we form organizations to create value, govern and coordinate economic activity. Going from the macro into the micro, we'll explore how blockchains are opening up completely new forms of global corporate forms.  

We are privileged to be joined by leading academic thinkers, entrepreneurs and technologists who are the very cutting edge of re-defining the firm in the age of blockchains.

Be sure to tune-in and subscribe to our channel on YouTube.

Related blogs

View all
blockchain gaming
The Money Movement

The Money Movement Episode 43: Building Blockchain Games with Big Time Stud...

Alex Behrens | December 16, 2021

In this episode, Jeremy talks with the co-founders of Big Time, a AAA blockchain game, on the future of NFTs in games and the metaverse. Watch now.

Read story about The Money Movement Episode 43: Building Blockchain Games with Big Time Studios
The Money Movement

The Money Movement Episode 42: The Decentralized Internet

Alex Behrens | December 14, 2021

Join Jeremy and Dr. Tomicah Tillemann for a critical discussion on the state of the internet today and the ongoing evolution to Web3 and decentralization.

Read story about The Money Movement Episode 42: The Decentralized Internet
The Money Movement

The Money Movement Episode 41: Building an Open Source Music Community

Alex Behrens | December 6, 2021

Watch episode 41 of The Money Movement now, and sign up for The Money Movement weekly newsletter with deep dives into the week's episode topics

Read story about The Money Movement Episode 41: Building an Open Source Music Community