In September, the president of the Dutch central bank wrote what may have been the most remarkable letter of his career: it said that the ECB’s interest rate hikes will lead to losses for De Nederlandsche Bank (DNB) for the first time since 1932. Several countries throughout the eurozone are facing a similar problem. To absorb the losses of their central banks, European taxpayers risk having to pay tens or even hundreds of billions of euros a year. Meanwhile private banks get that same amount of money without having to do anything in return. The ECB now stands ready to make a crucial policy decision to determine whether billions in taxpayer money will again flow to the banking sector.
Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. https://bitcoin.org/bitcoin.pdf outlined an alternative to the current monetary system in which banks are replaced by a peer-to-peer system to issue and transfer digital money: the Bitcoin. While Bitcoin has attracted a substantial investment volume, the system has not achieved the status of a viable alternative monetary system. However, the distributed ledger technology (DLT) underlying the payment system is being applied successfully by financial institutions and is likely to have important implications for the future of money and banking. In this paper we therefore focus on the most advanced distributed ledger application in the financial industry: R3 Corda. This paper is structured as follows. In the first section, we relate the debate about systems of money creation to the rise of Bitcoin. Next, the development of R3 Corda is discussed and the lessons learned for monetary reform. We conclude with an assessment of the scope and likelihood of monetary reform as a consequence of DLT applications by central banks.
This paper reveals how the automatising of protocols ignited a public conflict between Dutch banks and their Small and Medium-sized Enterprise (SME) clients in the years after the Global Financial Crisis. The bank’s “infirmary departments” for Financial Restructuring and Recovery (FR&R) were accused of (mal)treating SMEs. The conflict resulted in no formal regulatory or legal change despite public support. Instead, the banks created self-regulation to improve communication with SMEs, leading to shifts in governing FR&R for SMEs. This way, the banks mitigated significant negative symptoms of automation and solved the conflict with the SMEs while keeping FR&R and ongoing automation intact. The research uses an interdisciplinary analytical framework to understand national financial conflicts in a digitalised (business) world. It contributes to the theory of institutionalising values in discursive contests between action fields. The paper highlights the material and causes of normative conflicts of interest among critical actors in established public-private networks through discourse analysis and process tracing.
De laatste jaren zien we een hernieuwde aandacht voor de maatschappijkritische rol van het sociaal werk die vanaf halverwege de jaren ’90 nagenoeg van het toneel verdween (Peeters, 2010; Banks, 2014; Scholte, 2018). De participatiesamenleving doet een appel op de zelfredzaamheid, de eigen kracht en het informele netwerk van het individu om problemen aan te pakken, zonder daarbij de structurele oorzaken van sociale problemen te adresseren (Peeters, 2010; Banks, 2014; Nachtergaele e.a., 2017; Hubeau, 2018; Reynaert, Roose & Hermans, 2018; Scholte, 2018; Kampen, z.d.). Steeds meer onderzoek laat echter zien dat een beroep op de zelfredzaamheid en de eigen kracht van het individu juist voor kwetsbare groepen niet realistisch is (WRR, 2017; De Brabander, 2014). Sociaal werk zonder maatschappijkritische visie leidt tot een professioneel en democratisch tekort (Bredewold, e.a., 2018). Empowerment speelt een belangrijke rol in de maatschappijkritische positie van sociaal werk (Peeters, 2010; Banks, 2014). Empowerment richt zich niet alleen op het versterken van het zelfvertrouwen van het individu, het bevorderen van een gedeelde verantwoordelijkheid en inclusie, maar ook op het veranderen van structurele oorzaken die sociaal onrecht, sociale ongelijkheid en ongelijke machtsverhoudingen in stand houden (IFSW, juli 2018; Hubeau, 2018). Hier krijgt empowerment een ethisch-politieke dimensie (Van Regenmortel, 2011; Banks, 2012). Dit onderzoek spitst zich toe op de vraag wat de ethisch-politieke dimensie van empowerment inhoudt en op welke wijze empowerment kan bijdragen aan het ontwikkelen van de maatschappijkritische rol van het sociaal werk. Het uitgangspunt is daarbij dat ethiek ‘situated and politicized’ is (Banks, 2014). Deze invalshoek op ethiek biedt een verbreding van de beroepsethiek, die doorgaans ethische kwesties reduceert tot persoonlijke dilemma’s. Over deze bredere ethisch-politieke invalshoek is in Nederland nog nauwelijks geschreven. Het doel van dit onderzoek is kennis over deze ethisch-politieke invalshoek te ontsluiten voor studenten, docenten en professionals.
For the general public harbour and grey seals are the symbol of the Wadden Sea. The Wadden Sea is an ideal environment for seals: sandbanks that fall dry at low tide are important for rest and for suckle pups. However, the total population of harbour seals has first stabilized and later decreased in recent years, while the annual number of pups born has increased, but the mechanisms underlying this mismatch remain unclear. Furthermore, the harbour seal population has declined since 2022, but the cause of this decline is also unknown. The objective of the proposed study is to increase our understanding of the mechanisms underlying the population trends of harbour seals currently observed in the Dutch Wadden Sea. The study will be carried out by a consortium, involving key players involved in seal conservation and research in the Netherlands. Furthermore, to ensure that the research is embedded in the international context, the Common Wadden Sea Secretariat is a partner in the consortium. The consortium partners have concluded that essential monitoring data on harbour seals is missing and therefore we propose to investigate and report on four themes: (1) mapping of governance, stakeholders and data landscape, (2) identifying mechanisms underlying the observed population numbers, by reviewing available evidence and exploring possible mechanisms, (3) evaluation and improvement of harbour seal monitoring and (4) communication and advice for governance. We will share our findings through reports, scientific papers, infographics, conference presentations, workshops, and proposed monitoring protocols. We will synthesize and communicate our findings targeting four specific groups: (1) the general public (2) the scientific community, (3) educational institutions, and finally (4) the ministry of Agriculture, Nature and Food Quality (LNV), providing them with advice on how to advance research, conservation and management of the harbour seal population in the Dutch Wadden Sea.
