But as central bankers it’s also in our interest to communicate effectively: being open and clear is essential to make our policy more effective. Carefully calibrated communication – think of forward guidance – has itself become a tool of central bank policy.
18 EUROPEAN CENTRAL BANK, Virtual Currency Schemes – A Further Analysis, February 2015, 24. 19 Idem, 24. The crypto-community is, however, looking for solutions to this problem, e.g. through the creation of stablecoins. See https://medium.com/fintech-weekly-magazine/stablecoins-what-are-they-actually-fora1bc0732e472.