Whether or not we will overestimate distributed ledger technology (DLT) in the short run and underestimate it in the long run remains to be seen. However, I am sure we can agree that DLT currently stands in the limelight. A lot has been said about the potential impact of DLT on the roles and services of central banks.
In particular, questions related to whether or not central banks should move central bank money to DLT and whether there is a need for issuing central bank digital currency. Consequently, I think it’s time to frame the discussion.