Jonas Groß

Jonas Groß
University of Bayreuth

Master of Science
Chairman Digital Euro Association, Research on central bank digital currencies, stablecoins, and cryptocurrencies

About

32
Publications
18,896
Reads
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134
Citations
Citations since 2017
32 Research Items
134 Citations
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Introduction
Jonas Gross is Chairman of the Digital Euro Association (DEA), co-host of the German podcast "Bitcoin, Fiat, & Rock'n' Roll", and member of the expert panel of the European Blockchain Observatory and Forum. Jonas is a project manager at the Frankfurt School Blockchain Center (FSBC) and a PhD candidate at the University of Bayreuth. His current research topics are the following: - Monetary Economics - Digital Currencies
Additional affiliations
March 2020 - present
University of Bayreuth
Position
  • Research Assistant
Description
  • Research in the field of monetary policy and central bank digital currencies (CBDCs)
March 2019 - present
Frankfurt School of Finance & Management
Position
  • Research Assistant
Description
  • Research in the field of blockchain technology
Education
April 2016 - March 2019
University of Bayreuth
Field of study
  • Economics
October 2013 - April 2016
University of Bayreuth
Field of study
  • Economics

Publications

Publications (32)
Chapter
Full-text available
Distributed ledger technology (DLT) has the potential to address long-standing industrial challenges, remove frictions, build trust, and unlock new value across businesses and industries. It enables decentralization, the immutability of data, transparency, and the automation of business processes. Thereby, it creates a multitude of use cases rangin...
Article
Full-text available
The digital euro is not a monolithic project. On the contrary: The fields of application are broad, and possible solutions are diverse. This paper provides an overview of use cases, application domains, and infrastructures for the digital euro that differ significantly. A comparison with solutions for the digital dollar and the digital yuan leads t...
Thesis
Full-text available
This dissertation studies issues related to digital currencies and monetary policy. In particular, it analyzes the determinants of the monetary policy of the European Central Bank (ECB) and examines design aspects of central bank digital currencies (CBDCs), e.g., related to financial stability, monetary policy, and privacy. Almost 15 years ago, the...
Conference Paper
Full-text available
This study analyzes the potential of a programmable euro, a blockchain-based euro that enables programmable payments. The study sets out how DLT-based payment systems and a programmable euro can promote innovative business models for the real economy and the financial sector. To this end, such business models and their fields of application are dis...
Article
Full-text available
Most central banks in advanced economies consider issuing central bank digital currencies (CBDCs) to address the declining use of cash and to position themselves against increased competition from Big Tech companies, cryptocurrencies, and stablecoins. One crucial design dimension of a CBDC system is the degree of transaction privacy. Existing solut...
Article
Maschinen können mit Hilfe moderner Technologien die höchsten Produktionsanforderungen erfüllen. Die Wartung bleibt noch häufig dahinter zurück. Dabei können durch den Einsatz einer Blockchain nicht nur eine transparente Dokumentation der Wartungsvorgänge sicherstellt, sondern auch Serviceeinsätze besser geplant werden. Darüber hinaus helfen Machin...
Article
This paper analyzes the monetary policy of the European Central Bank (ECB) both before and after the outbreak of the global financial crisis in 2008. In the literature, researchers typically select one Taylor rule-based model to analyze monetary policy of central banks and to derive determinants for the interest rate setting. However, uncertainty a...
Article
Full-text available
This paper analyzes the monetary policy of the Federal Reserve (Fed) and the Bank of England (BoE) both before and after the global financial crisis. In contrast to extant literature, we use a Bayesian model averaging (BMA) approach that does not rely on one underlying empirical model but accounts for model uncertainty around the selection of the e...
Article
Full-text available
Distributed ledger technology (DLT) enables a wide range of innovative industrial use cases and business models, such as through programmable payments and the seamless exchange of assets, goods, and services. To exploit the full potential of a DLT-based European economy, it is crucial to integrate the euro into DLT networks. In this paper, we propo...
Article
Full-text available
Die Digitalisierung des Geldsystems schreitet immer weiter voran. Neben »klassischen« Krypto-Assets gewinnen auch sog. Stablecoins zunehmend an Bedeutung. Die Ankündigung des von Facebook initiierten Stablecoin »Libra« 2019 wird teilweise als Wendepunkt für den traditionellen Finanzsektor wahrgenommen. Auch Zentralbanken diskutieren derzeit intensi...
Article
Full-text available
Since technological innovations provoked a rethinking of the monetary system, central banks analyze the potentials and risks of CBDCs. While CBDCs offer several benefits, many suggest that they impose a threat to financial stability as they might disintermediate commercial banks and facilitate bank runs. To analyze these concerns, we develop an app...
Article
Full-text available
Blockchain, IoT, and AI are key technologies driving the next wave of the digital transformation. We argue that these technologies will converge and will allow for new business models: Autonomous agents (i.e., sensors, cars, machines, trucks, cameras, and other IoT devices) will in the future act as own profit centers that (1) have a digital twin l...
Article
Full-text available
Zusammenfassung Seit der Einführung von Bitcoin 2008 und vieler anderer Kryptowährungen ist eine neue Welle innovativer Zahlungsprojekte im Gange, darunter Innovationen wie Libra — als supranationaler Stablecoin konzipiert — und digitale Zentralbankwährungen. Diese privaten und öffentlichen Projekte sind durch verschiedene Wechselbeziehungen mitein...
Article
Full-text available
Zusammenfassung Zahlreiche Zentralbanken planen innerhalb der nächsten Jahre, eigene digitale Zentralbankwährungen einzuführen. Die Blockchain-Technologie kann dafür die technologische Basis darstellen. Zentralbanken experimentieren mit dieser Technologie, um Währungen perspektivisch auf Blockchain-Basis abzubilden. Mögliche Vorteile einer digitale...
Conference Paper
Full-text available
Existing payment systems get more and more disrupted. As a consequence of the global trend of digitizing payments and generating new business models from the use of blockchain-based digital programmable money, several new payment initiatives have been announced recently. Besides "classical" crypto assets, also stablecoins become increasingly import...
Article
Full-text available
Digitization has reached the monetary system. The advent of crypto assets, such as Bitcoin and Ether, revealed numerous advantages these digital assets based on distributed ledger technologies (DLTs) can bring: Using DLT can enhance the security of sensitive financial transaction data, increase transaction speed through faster processing and settle...
Article
Full-text available
Die fortschreitende Digitalisierung hat nun auch das Geldsystem erreicht. Das Aufkommen von Kryptowerten hat zahlreiche Vorteile aufgezeigt, die »Digital Assets«, die mit Distributed-Ledger-Technologien (DLT) verwaltet werden, mit sich bringen: Die Nutzung von DLT kann die Sicherheit von sensiblen Finanztransaktionen erhöhen, die Transaktionsgeschw...
Article
Full-text available
Following the announcement of Libra and with the start of Christine Lagarde's presidency, the ECB's efforts in the area of "central bank digital currencies" (CBDCs) have intensified noticeably. The basic idea behind CBDC is ultimately the transfer of physical cash into the digital world. However, the exact design of a CBDC system is crucial concern...
Article
Full-text available
Nach der Ankündigung von Libra und mit Beginn der EZB-Präsidentschaft von Christine Lagarde haben sich die Bemühungen der EZB in Sachen „digitales Zentralbankgeld“ (CBDC) spürbar intensiviert. Der Grundgedanke von CBDCs ist letztlich die Überführung von physischem Bargeld in die digitale Welt. Die genaue Ausgestaltung eines CBDC-Systems ist jedoch...
Research
Full-text available
This paper analyzes the interest rate setting of the European Central Bank (ECB) both before and after the outbreak of the global financial crisis. In the current monetary policy literature, researchers typically select one Taylor rule-based model in order to analyze the interest rate setting of central banks, but neglect uncertainty about the choi...
Article
Die Ankündigung des digitalen Währungsprojekts „Libra” hat weltweites Aufsehen erregt und Politiker, Gesetzgeber und Notenbanker aufgeschreckt. Doch ist diese private, globale Währung auch für Unternehmer relevant? Im vorliegenden Beitrag wird das Libra-Konzept erläutert und es werden die Folgen privater Digitalwährungen wie Libra und staatlicher D...
Article
Full-text available
Recently, stablecoins have gained high public attention. They provide a value-stable alternative to cryptocurrencies such as Bitcoin or Ethereum, which are volatile and, therefore, not suitable as means of payment. The announcement of the Libra project has further increased the public interest in stablecoins. In this paper, we study whether Libra m...
Article
Die Blockchain-Technologie wird fast alles, was mit Finanzen zu tun hat, verändern. Kryptowährungen werden hier eine gewisse Rolle spielen, allerdings werden Unternehmen vor allem dann die Blockchain-Technologie einsetzen, wenn der Euro „on chain“, also auf der Blockchain, notiert. Die Finanzabteilung in klassischen Industrieunternehmen – und hier...
Article
Full-text available
The announcement of the Libra Association to issue a private global currency has triggered a heated debate about the concomitant advantages and risks. Proponents expect Libra to unfetter money from its "governmental chains" and liberalize and cheapen monetary transactions around the globe. Opponents argue that a private currency imposes unforeseeab...
Article
Die Ankündigung der Libra Association, mit Libra eine private globale Währung zu emittieren, hat eine heftige Debatte über die damit verbundenen Chancen und Risiken ausgelöst. Befürworter erwarten, dass Libra das Geldsystem von seinen "staatlichen Fesseln" befreien und den Zahlungsverkehr weltweit liberalisieren und verbilligen kann. Gegner argumen...

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