- Before watching Part 1 of the video discuss the vocabulary below with your teacher.
- Watch the video with the English subtitles. Pay attention to how the new vocabulary is used. Pause the video when you need to.
- Try to answer the comprehension questions. Rewatch the video until you are happy with your answers.
Note: “discuss” means that you should understand the quote or statement and be ready to share your opinion about it. Do you agree/ disagree/ expand on the idea?
Part 1
Let’s start by looking at some of the more important vocabularies in the first 11 minutes
CBDC’s = Central Bank Digital Currencies
what does an usher do at a cinema or a theatre?
So what does usher in mean?
What was the French new wave in cinema?
What is the latest trend people have adopted? (adoption = noun)
If the boss asks you to stick around until after the meeting, it is good or bad news?
If the boss says “let’s get cracking” “we don’t have a lot of time”, what the hell is he talking about?
Do you like CoinBureau’s knowledge bombs?
Where did the word howdy originate?
What is your favourite handy tool?
Where can you find pearls of wisdom?
What does set mean in “ready, set, go”?
What are some examples of legal tender?
How much is a plethora?
What’s the difference between – to ask a question and – to beg a question?
What happens when your mind boggles?
Why does he say heck, or damn before
If you cut out something from a supply chain, what are you doing?
salient = noticeable or important
What is the purpose of mitigating threats or risks?
Minute 6:30
If you are encouraged to dive in, should you be careful?
What’s a different way to say accessible?
Can you name an emerging market at the moment?
If you are mugged on the street what happened?
Is it good news if the government endorses your project?
Do you think a ton of something is more than a vast amount of something?
What does a pivotal role do?
If we boil down something to its essence, what are we doing?
Is a mandate date a social event with a male friend or an official order?
If I underpin someone am I supporting it or making small holes in it?
Part 2
Watch the video with the English subtitles
Part 3
Comprehensions questions:
What is a good definition of a CBDC?
What is the DCEP a possible alternative to?
Who is developing the e-chrona?
What are the three main reasons for CBDC’s?
What is financial inclusion?
What is monetary sovereignty?
What does the example of the Marshall Islands show?
What’s an example of a stable coin?
Minute 6:30
Describe how to overcome the problem of the adoption of digital currencies.
What is the main difference between how cash is considered/registered in a bank and how CBDC’s are considered?
What does he say about someone who operates a central database and what they with it?
What are the mandates that central banks care about?
How can CBDC’s achieve price stability?
How can the blockchain act as a commitment device for transparent finance?
What are the economic implications of successful CBDC’s?
Video stopped at minute 11
Discussion
Why are central banks looking at blockchain for digital currencies?
Is there an imperative for central banks to move to a CBDC?
The blockchain represents the privacy characteristics of cash and security characteristics of deposits.
Do central banks value this?
