DECO 25A13 - Cryptocurrencies and Blockchain: New Challenges for Banks and Central Banks
DECO 25A13 · Spring semester 2025-2026
- Language of tuition
- English
- Course type
- Cours séminaire
- Number of hours
- 24
- Credits
- 5
Information
Description
This course aims at providing an understanding of the recent developments in cryptocurrencies and blockchain technology and their consequences on the banking sector and central banks. Cryptocurrencies and Fintech questions the banking system in its essential intermediary role but also central banks as provider of legal tender currency. Cryptocurrencies like BTC built on blockchains, work on a decentralized scheme disrupting our hierarchical system. This is a serious challenge for Central Banks and regulators since the banking and financial system greatly influences the state of the economy.
Cryptocurrencies - the Bitcoin in particular - were born as a way to develop an alternative to the existing system judged corrupted and biased by human action. Cryptocurrencies are more than just the design of a new monetary system, it offers an alternative design for the organization of the society based on decentralization and trust. The course investigates the consequences of their further adoption on banks and central banking together with the response of Central Banks and regulators. After a review of our traditional banking and financial system, the course will introduce cryptocurrencies starting with Bitcoin, the Ethereum, stablecoins and CBDCs. The last part of the course will be dedicated to the emergence of different regulatory frameworks at the international level, in particular MICA and Genius Act.
Assessment
Readings
Main readings 5
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Bank for International Settlements, Payment Aspects of financial inclusion in the Fintech era, Committee on payments and market infrastructure, World Bank Group, April 2020.
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Bank for International Settlements, Policy responses to fintech: a cross-country overview, Financial Stability Institute, January 2020.
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Mishkin F. S (M), The Economics of Money, Banking and Financial Markets, Global Edition (13h edition, Pearson Addison Wesley, 2021) recommended to students who have no prior knowledge of Money and Banking
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Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. Working Paper.
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Regulating Fintech financing: digital Banks and Fintech platforms by Johannes Ehrentraud,Denise Garcia Ocampo,Camila Quevedo Vega, BIS, August 2020.
Further readings 10
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BIS Annual Economic Report, Central Digital Currencies, III. CBDCs: an opportunity for the monetary system, June 2021.
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ECB, Report on a Digital Euro, October 2020.
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https://nakamotoinstitute.org/library/
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https://www.alt-m.org/
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https://www.bis.org/
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https://www.coindesk.com/
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https://www.ecb.europa.eu/home/html/index.en.html
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https://www.federalreserve.gov/
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Le Mystère Satoshi : https://www.arte.tv/fr/videos/RC-021581/le-mystere-satoshi/
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MFBlog, Tobian and Weeks-Brown , “Cryptoassets as a National Currency: a Step too Far” https://blogs.imf.org/2021/07/26/cryptoassets-as-national-currency-a-step-too-far/ IMF, GLOBAL FINANCIAL STABILITY REPORT: COVID-19, CRYPTO, AND CLIMATE: NAVIGATING CHALLENGING TRANSITIONS, Chap 2 The Crypto ecosystem and financial stability challenges (2021)
Teaching units
| Unit no. | Unit type | Teaching units | Teachers | Number of hours | Credits |
|---|---|---|---|---|---|
| 54380 | Cours séminaire | Cryptocurrencies and Blockchain: New Challenges for Banks and Central Banks | Nathalie JANSON | 24 | 5 |
Teachers
- Nathalie JANSON
In the curricula
- Bachelor, Programme d'échange, semestre 4, seminaires - 25/26COLLÈGE UNIVERSITAIRE - CAMPUS PARIS
- Bachelor, semestre 4, 25/26 : cours séminairesCOLLÈGE UNIVERSITAIRE - CAMPUS PARIS
Contacts and resources
- Contact
- DE MISCAULT Ségolène