Introduction to CBDC Research
A quick preface to an AI-assisted research experiment
In 2018-2021, I conducted research around topics that were meant to be used as inputs for presentations and talking points for experts in the field of finance. One such topic centered on central banking technology called CBDC (Central Bank Digital Currency). Some of this work was used in presentations, some of it was passed on to be incorporated in whitepapers (A Global look at Central Bank Digital Currencies), but most of it was buried in my hard drive in the form of raw research like bullet points and summarized hyperlinks.
In 2023, the world was treated to the release of ChatGPT by OpenAI, an advanced form of generative artificial intelligence that can respond to language prompts with convincing text. This AI is general in its application, with the ability to understand most any topic and construct a response that is indiscernible from a human. ChatGPT, and other AI’s with a similar level of technology, are able to write a narrative around most any subject matter specified by a user.
It became apparent that ChatGPT may be able to repurpose some of my past research (that had been in the form of an outline) into a compelling narrative for general consumption instead of presentations for executives. So I began feeding ChatGPT my work, and ChatGPT began writing a lengthy yet comprehensive story with my framework. I’ve found the AI’s word choice and phrasing to be at times confusing and perhaps misleading. I proofread the AI’s work to attempt to catch these inaccuracies but at times they will slip through.
Regardless, I believe the content to contribute other human-exclusive research reports in the space both as an exercise on the application of AI and as a CBDC specific report. That being said, much of this information is over two years old, and can reference work from more than three years ago. This series of posts functions more as an experiment in the capabilities of AI, and its proper application to the research process. This post was written without AI assistance as a baseline if you are curious about the AI’s somewhat unique writing style and voice.
Whether you are a researcher, an AI enthusiast, or someone curious about the state of central banking technology and blockchain, I hope you enjoy this series of posts and consider how both CBDC and AI will be incorporated into the future of our world.
The CBDC Series:
This list will be updated as the research is episodically released.
Introduction to CBDC Research (This Post)
CBDC Series Episode 1: Unveiling the Digital Frontier
CBDC Series Episode 2: Taxonomy of CBDC
CBDC Series Episode 3: Historical Comments from Friedman and Keynes on the future monetary system
… TBC …
Image created by Microsoft Dall-e