A new paper on stablecoins and the singlness of money discussing:
- How different forms of money have evolved over time;
- How singleness is defined, its history, and the distinction between singleness in theory and in practice;
- The implications that the interplay of stablecoins and traditional forms of money may have for singleness, including the nature of stablecoins;
- The implications for the integration of stablecoins into the financial services ecosystem;
- The mechanisms by which singleness in practice is currently achieved today; and
- Recommendations for the role of policy in preserving
- singleness.