Skip to main content
Top

2024 | OriginalPaper | Chapter

3. Nation States

Authors : Thomas Puschmann, H. S. H. Prince Michael of Liechtenstein

Published in: Financial System 2030

Publisher: Springer Nature Switzerland

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

This chapter originates from digital citizens as the “backbone” of the financial system 2030 and describes the role and changing behavior of the consumer in this context. The development toward digital money is introduced as the core concept which enables the unbundling of monetary functions through digitalization, which will ultimately lead to the full virtualization of money. In this context, central bank digital currencies are introduced as a novel concept for central bank money. This new form of money may be used in the web3 economy, which is based on peer-to-peer ecosystems and digital communities, which emerge as a new concept across geographic boundaries.

To get access to this content you need the following product:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Literature
go back to reference Arner, D. W., Buckley, R. P., & Zetsche, D. A. (2018) FinTech for financial inclusion: Designing infrastructure for financial transformation. Working Paper. The University of Hong Kong, University of New South Wales and University of Luxemburg. Arner, D. W., Buckley, R. P., & Zetsche, D. A. (2018) FinTech for financial inclusion: Designing infrastructure for financial transformation. Working Paper. The University of Hong Kong, University of New South Wales and University of Luxemburg.
go back to reference Bank of England. (2020). Central Bank Digital Currency - Opportunities, challenges and design. Bank of England. Bank of England. (2020). Central Bank Digital Currency - Opportunities, challenges and design. Bank of England.
go back to reference Bech, M., & Garrat, R. (2017). Central bank cryptocurrencies. BIS Quarterly Review, 1709, 55–80. Bech, M., & Garrat, R. (2017). Central bank cryptocurrencies. BIS Quarterly Review, 1709, 55–80.
go back to reference Benons, C. C. (2020). Global payments. Glenbrook Press. Benons, C. C. (2020). Global payments. Glenbrook Press.
go back to reference BIS. (2019b). Bank for international settlements, Investigating the impact of global stablecoins. Basel. BIS. (2019b). Bank for international settlements, Investigating the impact of global stablecoins. Basel.
go back to reference BIS. (2020a). Bank for international settlements, Enhancing cross-border payments: Building blocks of a global roadmap. Basel. BIS. (2020a). Bank for international settlements, Enhancing cross-border payments: Building blocks of a global roadmap. Basel.
go back to reference BIS. (2020b). Bank for international settlements, Central bank digital currencies: Foundational principles and core features. Basel. BIS. (2020b). Bank for international settlements, Central bank digital currencies: Foundational principles and core features. Basel.
go back to reference BIS. (2021). Bank for international settlements, Ready, steady, go? – Results of the third BIS survey on central bank digital currency, Basel. BIS. (2021). Bank for international settlements, Ready, steady, go? – Results of the third BIS survey on central bank digital currency, Basel.
go back to reference Brunnermeier, M., Niepelt, D. (2019) On the equivalence of private and public money, Working Paper. Princeton University and University of Berne. Brunnermeier, M., Niepelt, D. (2019) On the equivalence of private and public money, Working Paper. Princeton University and University of Berne.
go back to reference Brunnermeier, M. K., James, H., & Landau, J.-P. (2019) The digitalization of money. Working Paper, Princeton University. Brunnermeier, M. K., James, H., & Landau, J.-P. (2019) The digitalization of money. Working Paper, Princeton University.
go back to reference Casey, M. J., & Vigna, P. (2018). The truth machine – The blockchain and the future of everything. St. Martin’s Press. Casey, M. J., & Vigna, P. (2018). The truth machine – The blockchain and the future of everything. St. Martin’s Press.
go back to reference Chaum, D. (1983). Blind signatures for untraceable payments. Advances in Cryptology: Proceedings of Crypto ‘82, 82(3), 199–203.CrossRef Chaum, D. (1983). Blind signatures for untraceable payments. Advances in Cryptology: Proceedings of Crypto ‘82, 82(3), 199–203.CrossRef
go back to reference Chaum, D., & Moser, T. (2022). How to issue a central bank digital currency. SNB Working Papers No. 3/2021. Zurich: Swiss National Bank. Chaum, D., & Moser, T. (2022). How to issue a central bank digital currency. SNB Working Papers No. 3/2021. Zurich: Swiss National Bank.
go back to reference Clearing House. (2018). Fintech apps and data privacy: New insights from consumer research. Report, The Clearing House. Clearing House. (2018). Fintech apps and data privacy: New insights from consumer research. Report, The Clearing House.
go back to reference Dowd, K. (1998). Money and the nation state - The financial revolution, government and the world monetary system. Routledge. Dowd, K. (1998). Money and the nation state - The financial revolution, government and the world monetary system. Routledge.
go back to reference Drucker, P. F. (1954). The practice of management. HarperCollins. Drucker, P. F. (1954). The practice of management. HarperCollins.
go back to reference European Financial Management Association (EFMA). (2017). The rise of affluent millennials - How to stay relevant, Report. European Financial Management Association (EFMA). (2017). The rise of affluent millennials - How to stay relevant, Report.
go back to reference Gassmann, O., Csik, M., & Frankenberger, K. (2014). The business model navigator: 55 models that will revolutionise your business. FT Press. Gassmann, O., Csik, M., & Frankenberger, K. (2014). The business model navigator: 55 models that will revolutionise your business. FT Press.
go back to reference Gorton, G., & Zhang, J. Y. (2021). Taming wildcat stablecoins. University of Chicago Law Review, 90. Gorton, G., & Zhang, J. Y. (2021). Taming wildcat stablecoins. University of Chicago Law Review, 90.
go back to reference Gray, M. L., & Suri, S. (2019). Ghost work: How to stop silicon valley from building a new global underclass. Houghton Mifflin Harcourt Publishing. Gray, M. L., & Suri, S. (2019). Ghost work: How to stop silicon valley from building a new global underclass. Houghton Mifflin Harcourt Publishing.
go back to reference Harari, Y. (2019). 21 lessons for the 21st century. Random House. Harari, Y. (2019). 21 lessons for the 21st century. Random House.
go back to reference Hens, T. (2020). Will the blockchain help to denationalize money? Working Paper: University of Zurich. In K. Leube (Ed.), The state and its limits: The economic and politics of freedom for the third millennium: Essays in honor of Prince Hans-Adam II of Liechtenstein. van Eck Publishers. Hens, T. (2020). Will the blockchain help to denationalize money? Working Paper: University of Zurich. In K. Leube (Ed.), The state and its limits: The economic and politics of freedom for the third millennium: Essays in honor of Prince Hans-Adam II of Liechtenstein. van Eck Publishers.
go back to reference IMF. (2019). International monetary fund. Fintech notes – The rise of digital money. Report. Washington, DC. IMF. (2019). International monetary fund. Fintech notes – The rise of digital money. Report. Washington, DC.
go back to reference IMF. (2020). International monetary fund. Reserve currencies in an evolving international monetary system. Report. Washington, DC. IMF. (2020). International monetary fund. Reserve currencies in an evolving international monetary system. Report. Washington, DC.
go back to reference Kar, A. K., Ilavarasan, V., Gupta, M. P., Janssen, M., & Kothari, R. (2019). Moving beyond smart cities: Digital nations for social innovation & sustainability. Information Systems Frontiers, 21(3), 495–501.CrossRef Kar, A. K., Ilavarasan, V., Gupta, M. P., Janssen, M., & Kothari, R. (2019). Moving beyond smart cities: Digital nations for social innovation & sustainability. Information Systems Frontiers, 21(3), 495–501.CrossRef
go back to reference McAuley, D., & Weiner, S. (2015). The millennial generation and the future of finance: A different kind of trust. Report, Innotribe. McAuley, D., & Weiner, S. (2015). The millennial generation and the future of finance: A different kind of trust. Report, Innotribe.
go back to reference McKinsey & Company. (2019b). Amid sustained growth: Accelerating challenges demand bold actions. Report. McKinsey & Company. (2019b). Amid sustained growth: Accelerating challenges demand bold actions. Report.
go back to reference McKinsey & Company. (2023). The 2023 McKinsey global payments report. Report. McKinsey & Company. (2023). The 2023 McKinsey global payments report. Report.
go back to reference Narula, N., Swartz, L., & Frizzo-Barker, J. (2023). CBDC: Expanding financial inclusion or deepening the divide? Working Paper, MIT Digital Currency Initiative and Maiden Labs, Cambridge, MA. Narula, N., Swartz, L., & Frizzo-Barker, J. (2023). CBDC: Expanding financial inclusion or deepening the divide? Working Paper, MIT Digital Currency Initiative and Maiden Labs, Cambridge, MA.
go back to reference Orwell, G. (1984). Nineteen eighty-four. Secker & Warburg. Orwell, G. (1984). Nineteen eighty-four. Secker & Warburg.
go back to reference Palfrey, J., & Gasser, U. (2016). Born digital: How children grow up in a digital age. Revised Edition. Basic Books. Palfrey, J., & Gasser, U. (2016). Born digital: How children grow up in a digital age. Revised Edition. Basic Books.
go back to reference Rauchs, M., Blandin, A., Klein, K., Pieters, G. C., Recanatini, M., & Zhang, B. Z. (2018). 2nd Global cryptoasset benchmarking study. University of Cambridge.CrossRef Rauchs, M., Blandin, A., Klein, K., Pieters, G. C., Recanatini, M., & Zhang, B. Z. (2018). 2nd Global cryptoasset benchmarking study. University of Cambridge.CrossRef
go back to reference Puschmann, T. (2017). Fintech. Business and Information Systems Engineering, 59, 69–76.CrossRef Puschmann, T. (2017). Fintech. Business and Information Systems Engineering, 59, 69–76.CrossRef
go back to reference Puschmann, T., & Alt, R. (2016). Sharing economy. Business & Information Systems Engineering, 58(1), 93–99.CrossRef Puschmann, T., & Alt, R. (2016). Sharing economy. Business & Information Systems Engineering, 58(1), 93–99.CrossRef
go back to reference Ripple. (2019). Blockchain adoption: The tipping point is near. Report. Ripple. (2019). Blockchain adoption: The tipping point is near. Report.
go back to reference Sanches, D. (2016). The free-banking era: A lesson for today? Federal Reserve Bank Philadelphia. Sanches, D. (2016). The free-banking era: A lesson for today? Federal Reserve Bank Philadelphia.
go back to reference Slonim, N., Bilu, Y., Alzate, C., Bar-Haim, R., Bogin, B., Bonin, F., et al. (2021). An autonomous debating system. Nature, 591, 379–384.CrossRef Slonim, N., Bilu, Y., Alzate, C., Bar-Haim, R., Bogin, B., Bonin, F., et al. (2021). An autonomous debating system. Nature, 591, 379–384.CrossRef
go back to reference Sundararajan, A. (2016). The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. MIT Press: Cambridge(MA). Sundararajan, A. (2016). The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. MIT Press: Cambridge(MA).
go back to reference Welfare. (2019). Commercializing blockchain: Strategic applications in the real world. Wiley.CrossRef Welfare. (2019). Commercializing blockchain: Strategic applications in the real world. Wiley.CrossRef
go back to reference World Wide Web Consortium (W3C). (2019). Decentralized Identifiers (DIDs) v1.0 - Core Data Model and Syntaxes. W3C Credentials Community Group. World Wide Web Consortium (W3C). (2019). Decentralized Identifiers (DIDs) v1.0 - Core Data Model and Syntaxes. W3C Credentials Community Group.
go back to reference World Wide Web Consortium (W3C). (2022). Decentralized Identifiers (DIDs) v1.0 - Core Data Model and Syntaxes. W3C Credentials Community Group, Cambridge (MA). World Wide Web Consortium (W3C). (2022). Decentralized Identifiers (DIDs) v1.0 - Core Data Model and Syntaxes. W3C Credentials Community Group, Cambridge (MA).
Metadata
Title
Nation States
Authors
Thomas Puschmann
H. S. H. Prince Michael of Liechtenstein
Copyright Year
2024
DOI
https://doi.org/10.1007/978-3-031-55700-2_3