Eggs in one basket : security and convenience of digital currencies / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong.: FB3-5/2021-6E-PDF
"Digital currencies store balances in anonymous electronic addresses. We analyze the trade-offs between the safety and convenience of aggregating balances in addresses, electronic wallets and banks. In our model, agents balance the risk of theft of a large account with the cost to safeguarding a large number of passwords for many small accounts. Account custodians (banks, wallets and other payment service providers) have different objectives and trade-offs along these dimensions; we analyze the welfare effects of differing industry structures and interdependencies. In particular, we examine, the consequences of “password aggregation" programs, which, in effect, consolidate risks across accounts"--Abstract, page ii.
Permanent link to this Catalogue record:
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| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | Eggs in one basket : security and convenience of digital currencies / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong. |
| Series title | Staff working paper = Document de travail du personnel, 1701-9397 ; 2021-6 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Includes bibliographical references (pages 29-32). |
| Publishing information | Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, January 28, 2021. ©2021 |
| Author / Contributor | Kahn, Charles M., author. |
| Description | 1 online resource (ii, 45 pages) : illustrations (some colour) |
| Catalogue number |
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| Subject terms | Digital currency. Monnaie électronique. |
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