Crypto-assets, on the other hand, are a liability belonging to nobody: there is no asset that backs them up and no clear governance structure that can guarantee trust. For these reasons, the value of a CBDC would not suffer from the excessive volatility that affects crypto-assets. 3.
There was a meeting held in August 2011 here in Nairobi to review the progress, besides the various presentations and feedback during the different Ordinary and Extra-ordinary MAC meetings. This attests to the quality of output expected from these two studies.