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Even as the popularity of cryptocurrencies grows, debates surrounding their viability as a medium of exchange, a store of value, and as an investment remain contentious. In this episode of EconoFact Chats, Eswar Prasad of Cornell University joins Michael Klein for a discussion of how cryptocurrencies work, the ways in which they differ from central bank digital currencies, issues surrounding the regulation of cryptocurrency, and the environmental impact of mining cryptocurrencies like bitcoin.

Eswar Prasad is the Nandlal P. Tolani Senior Professor of Trade Policy and professor of economics at Cornell University, and a senior fellow at the Brookings Institution. His latest book is The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance.