Digital currency use rouses curiosity
The joint seminar was arranged by the Department of Economics, Centre for Financial Risk and Department of Applied Finance at Macquarie University.
Digital currencies store balances using anonymous addresses and this seminar analyses the trade-offs between, safety and convenience of aggregating balances.
It becomes necessary to balance the risk of theft of a large account with the cost to safe-guarding a large number of passwords of many small accounts.
Account custodians, such as banks and other payment service providers, have different objectives and trade-offs on these dimensions. The analysis will consider the welfare effects of differing industry structures and interdependencies.
Prof Kahn’s research specialties are payment systems and liquidity. He is Professor Emeritus in the Department of Finance at the University of Illinois. He was previously Bailey Memorial Professor and as department chair, as well as co-director of its Office for Banking Research.
He is currently a Research Fellow at the Federal Reserve Bank of St. Louis and a Visiting Scholar at Bank of Canada.
An authority on banking and financial intermediation, Prof Kahn has been an overseas fellow at Churchill College, Cambridge University; a visiting fellow at the Australian National University; a National Fellow of the Hoover Institution, Stanford University; a Houblon-Norman fellow at the Bank of England; and the Visiting Tan Chin Tuan Professor at the National University of Singapore.
He consults regularly for central banks throughout the world and has been a visiting scholar at the Federal Reserve Banks of Atlanta, Chicago, and New York.
Time: Monday 25 February, 11:00am - 12:00pm