NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Digital Currencies, Decentralized Ledgers, and the Future of Central Banking

Max Raskin, David Yermack

NBER Working Paper No. 22238
Issued in May 2016

---- Acknowledgments ----

The authors thank Daniel Alter, Michael McConnell and Geoffrey Miller for helpful comments. Part of this research was completed while Yermack was a visiting professor at Erasmus University Rotterdam. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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