Please answer each question in 2-3 paragraphs.

3. What is a Central Bank Digital Currency or CBDC, what is the current world status of CBDC's and what should we know about them in terms of potential benefits and likely risks and policy considerations (hint; refer to the Federal Reserve WP for some of the answers)? Include in your answer if you think CBDC's are a good thing or a bad thing and why. What are the financial service and risk implications of crypto assets, especially stable coins? 4. What is Crypto economics, why is it important in the crypto ecosystem and what are examples of crypto economics being used