Skip to main content

2024 | OriginalPaper | Buchkapitel

The Challenges of New Central Banks Crypto-Currencies: CDBC

verfasst von : Mohamed Bechir Chenguel

Erschienen in: Technology: Toward Business Sustainability

Verlag: Springer Nature Switzerland

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

Crypto-currencies are digital currencies that can be used to settle transactions over the Internet, and their emergence is intended to bypass traditional currencies. At first, central banks were very wary, but following the spectacular growth in transactions with crypto-currencies, some central banks were seduced and decided to appropriate the “blockchain” program by creating their own “central bank digital currencies” (CBDCs). But the introduction of CBDCs poses a number of problems: what are the advantages of this new adoption, and what are the issues and impacts on households, banks and the economy in general, especially with virtually no regulation. Through this research paper we will try to answer these questions and take a closer look at all the issues surrounding the adoption of these new currencies issued by central banks.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

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 "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

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!

Literatur
Zurück zum Zitat Al-Saqaf, W., Seidler, N.: Blockchain technology for social impact: opportunities and challenges ahead. J. Cyber Policy 2(3), 338–354 (2017)CrossRef Al-Saqaf, W., Seidler, N.: Blockchain technology for social impact: opportunities and challenges ahead. J. Cyber Policy 2(3), 338–354 (2017)CrossRef
Zurück zum Zitat An, M., Fan, Q., Yu, H., Zhao, H.: Blockchain technology research and application: a systematic literature review and future trends (2023). arXiv preprint arXiv:2306.14802 An, M., Fan, Q., Yu, H., Zhao, H.: Blockchain technology research and application: a systematic literature review and future trends (2023). arXiv preprint arXiv:​2306.​14802
Zurück zum Zitat Andrae, S.: FinTech regulation: a macro-structural approach. In FinTech Research and Applications: Challenges and Opportunities, pp. 93–139 (2023) Andrae, S.: FinTech regulation: a macro-structural approach. In FinTech Research and Applications: Challenges and Opportunities, pp. 93–139 (2023)
Zurück zum Zitat Arner, D.W., Barberis, J.N., Walker, J., Buckley, R.P., Dahdal, A.M., Zetzsche, D.A.: Digital finance and the COVID-19 crisis. University of Hong Kong Faculty of Law Research Paper, (2020/017) (2020) Arner, D.W., Barberis, J.N., Walker, J., Buckley, R.P., Dahdal, A.M., Zetzsche, D.A.: Digital finance and the COVID-19 crisis. University of Hong Kong Faculty of Law Research Paper, (2020/017) (2020)
Zurück zum Zitat Ashfaq, M., Hasan, R., Merčon, J.: Central Bank Digital Currencies and the Global Financial System: Theory and Practice. Walter de GruyterGmbHand Co KG (2023) Ashfaq, M., Hasan, R., Merčon, J.: Central Bank Digital Currencies and the Global Financial System: Theory and Practice. Walter de GruyterGmbHand Co KG (2023)
Zurück zum Zitat Auer, R., Böhme, R.: The technology of retail central bank digital currency. BIS Q. Rev. (2020) Auer, R., Böhme, R.: The technology of retail central bank digital currency. BIS Q. Rev. (2020)
Zurück zum Zitat Bagis, B.: Digital Currencies and Monetary POLICY in the New Era. Insight Turkey/Summer 2022: Embracing Emerging Technologies, vol. 189 (2022) Bagis, B.: Digital Currencies and Monetary POLICY in the New Era. Insight Turkey/Summer 2022: Embracing Emerging Technologies, vol. 189 (2022)
Zurück zum Zitat Bhatt, A., Joshipura, M., Joshipura, N.: Decoding the trinity of Fintech, digitalization and financial services: An integrated bibliometric analysis and thematic literature review approach. Cogent Econ. Finan. 10(1), 2114160 (2022)CrossRef Bhatt, A., Joshipura, M., Joshipura, N.: Decoding the trinity of Fintech, digitalization and financial services: An integrated bibliometric analysis and thematic literature review approach. Cogent Econ. Finan. 10(1), 2114160 (2022)CrossRef
Zurück zum Zitat Bitros, G., Malliaris, A.G.: Central bank digital currencies: Foundational issues and prospects looking forward (2023) Bitros, G., Malliaris, A.G.: Central bank digital currencies: Foundational issues and prospects looking forward (2023)
Zurück zum Zitat Claeys, G., Demertzis, M., Efstathiou, K.: Cryptocurrencies and monetary policy (No. 2018/10). Bruegel Policy Contribution (2018) Claeys, G., Demertzis, M., Efstathiou, K.: Cryptocurrencies and monetary policy (No. 2018/10). Bruegel Policy Contribution (2018)
Zurück zum Zitat Clark, E., Lahiani, A., Mefteh-Wali, S.: Cryptocurrency return predictability: what is the role of the environment? Technol. Forecast. Soc. Change 189, 122350 (2023)CrossRef Clark, E., Lahiani, A., Mefteh-Wali, S.: Cryptocurrency return predictability: what is the role of the environment? Technol. Forecast. Soc. Change 189, 122350 (2023)CrossRef
Zurück zum Zitat Coulter, K.A.: Stop Creating Private Money! Should the Bank of England Introduce a Central Bank Digital Currency to Compete with Cryptocurrency? A Review of the UK Bank of England’s Proposed Retail CBDC. A Review of the UK Bank of England’s Proposed Retail CBDC (2022) Coulter, K.A.: Stop Creating Private Money! Should the Bank of England Introduce a Central Bank Digital Currency to Compete with Cryptocurrency? A Review of the UK Bank of England’s Proposed Retail CBDC. A Review of the UK Bank of England’s Proposed Retail CBDC (2022)
Zurück zum Zitat Cunha, P.R., Melo, P., Sebastião, H.: From bitcoin to central bank digital currencies: making sense of the digital money revolution. Future Internet 13(7), 165 (2021)CrossRef Cunha, P.R., Melo, P., Sebastião, H.: From bitcoin to central bank digital currencies: making sense of the digital money revolution. Future Internet 13(7), 165 (2021)CrossRef
Zurück zum Zitat Dashkevich, N., Counsell, S., Destefanis, G.: Blockchain application for central banks: a systematic mapping study. IEEE Access 8, 139918–139952 (2020)CrossRef Dashkevich, N., Counsell, S., Destefanis, G.: Blockchain application for central banks: a systematic mapping study. IEEE Access 8, 139918–139952 (2020)CrossRef
Zurück zum Zitat Demertzis, M., Martins, C.: The value added of central bank digital currencies: a view from the euro area. Bruegel (2023) Demertzis, M., Martins, C.: The value added of central bank digital currencies: a view from the euro area. Bruegel (2023)
Zurück zum Zitat Díaz, A., Esparcia, C., Huélamo, D.: Stablecoins as a tool to mitigate the downside risk of cryptocurrency portfolios. North Am. J. Econ. Finan. 64, 101838 (2023)CrossRef Díaz, A., Esparcia, C., Huélamo, D.: Stablecoins as a tool to mitigate the downside risk of cryptocurrency portfolios. North Am. J. Econ. Finan. 64, 101838 (2023)CrossRef
Zurück zum Zitat Dionysopoulos, L., Marra, M., Urquhart, A.: Central Bank Digital Currencies: A Critical Review (2023). Available at SSRN 4354985 Dionysopoulos, L., Marra, M., Urquhart, A.: Central Bank Digital Currencies: A Critical Review (2023). Available at SSRN 4354985
Zurück zum Zitat Dudani, S., Baggili, I., Raymond, D., Marchany, R.: The current state of cryptocurrency forensics. Forensic Sci. Int. Digital Invest. 46, 301576 (2023)CrossRef Dudani, S., Baggili, I., Raymond, D., Marchany, R.: The current state of cryptocurrency forensics. Forensic Sci. Int. Digital Invest. 46, 301576 (2023)CrossRef
Zurück zum Zitat Duffie, D., Mathieson, K., Pilav, D.: Central bank digital currency: Principles for technical implementation (2021). Available at SSRN 3837669 Duffie, D., Mathieson, K., Pilav, D.: Central bank digital currency: Principles for technical implementation (2021). Available at SSRN 3837669
Zurück zum Zitat Echarte Fernández, M.Á., Náñez Alonso, S.L., Jorge-Vázquez, J., Reier Forradellas, R.F.: Central banks’ monetary policy in the face of the COVID-19 economic crisis: monetary stimulus and the emergence of CBDCs. Sustainability 13(8), 4242 (2021)CrossRef Echarte Fernández, M.Á., Náñez Alonso, S.L., Jorge-Vázquez, J., Reier Forradellas, R.F.: Central banks’ monetary policy in the face of the COVID-19 economic crisis: monetary stimulus and the emergence of CBDCs. Sustainability 13(8), 4242 (2021)CrossRef
Zurück zum Zitat Hoang, Y.H., Ngo, V.M., Vu, N.B.: Central bank digital currency: A systematic literature review using text mining approach. Res. Int. Bus. Finan. 101889 (2023) Hoang, Y.H., Ngo, V.M., Vu, N.B.: Central bank digital currency: A systematic literature review using text mining approach. Res. Int. Bus. Finan. 101889 (2023)
Zurück zum Zitat Hu, S.: Central Bank Digital Currencies: Opportunities and Challenges in the Post-pandemic Era. Future And Fintech, The: Abcdi And Beyond, 223 (2022) Hu, S.: Central Bank Digital Currencies: Opportunities and Challenges in the Post-pandemic Era. Future And Fintech, The: Abcdi And Beyond, 223 (2022)
Zurück zum Zitat Kaczmarek, P.: Central bank digital currency: scenarios of implementation and potential consequences for monetary system. J. Central Bank. Theory Pract. 11(3), 137–154 (2022)CrossRef Kaczmarek, P.: Central bank digital currency: scenarios of implementation and potential consequences for monetary system. J. Central Bank. Theory Pract. 11(3), 137–154 (2022)CrossRef
Zurück zum Zitat Kapsis, I.: 7 Crypto-assets and criminality. Organised Crime, Financial Crime, and Criminal Justice: Theoretical Concepts and Challenges, 122 (2023) Kapsis, I.: 7 Crypto-assets and criminality. Organised Crime, Financial Crime, and Criminal Justice: Theoretical Concepts and Challenges, 122 (2023)
Zurück zum Zitat Kshetri, N.: China’s digital Yuan: motivations of the Chinese government and potential global effects. J. Contemp. China 32(139), 87–105 (2023)CrossRef Kshetri, N.: China’s digital Yuan: motivations of the Chinese government and potential global effects. J. Contemp. China 32(139), 87–105 (2023)CrossRef
Zurück zum Zitat Kuehnlenz, S., Orsi, B., Kaltenbrunner, A.: Central bank digital currencies and the international payment system: the demise of the US dollar? Res. Int. Bus. Financ. 64, 101834 (2023)CrossRef Kuehnlenz, S., Orsi, B., Kaltenbrunner, A.: Central bank digital currencies and the international payment system: the demise of the US dollar? Res. Int. Bus. Financ. 64, 101834 (2023)CrossRef
Zurück zum Zitat Lawo, D., Neifer, T., Esau-Held, M., Stevens, G.: Digital sovereignty: what it is and why it matters for HCI. In: Extended Abstracts of the 2023 CHI Conference on Human Factors in Computing Systems, pp. 1–7 (2023) Lawo, D., Neifer, T., Esau-Held, M., Stevens, G.: Digital sovereignty: what it is and why it matters for HCI. In: Extended Abstracts of the 2023 CHI Conference on Human Factors in Computing Systems, pp. 1–7 (2023)
Zurück zum Zitat Lee, D.K.C., Yan, L., Wang, Y.: A global perspective on central bank digital currency. China Econ. J. 14(1), 52–66 (2021)CrossRef Lee, D.K.C., Yan, L., Wang, Y.: A global perspective on central bank digital currency. China Econ. J. 14(1), 52–66 (2021)CrossRef
Zurück zum Zitat Leinonen, H.: Wholesale central bank digital currency vs traditional real-time gross settlement: Benefits beyond a new acronym? J. Payments Strategy Syst. 17(1), 68–85 (2023) Leinonen, H.: Wholesale central bank digital currency vs traditional real-time gross settlement: Benefits beyond a new acronym? J. Payments Strategy Syst. 17(1), 68–85 (2023)
Zurück zum Zitat Mitchener, K.J., Trebesch, C.: Sovereign debt in the twenty-first century. J. Econ. Lit. 61(2), 565–623 (2023)CrossRef Mitchener, K.J., Trebesch, C.: Sovereign debt in the twenty-first century. J. Econ. Lit. 61(2), 565–623 (2023)CrossRef
Zurück zum Zitat Morales-Resendiz, R., et al.: Implementing a retail CBDC: lessons learned and key insights. Latin Am. J. Central Bank. 2(1), 100022 (2021)CrossRef Morales-Resendiz, R., et al.: Implementing a retail CBDC: lessons learned and key insights. Latin Am. J. Central Bank. 2(1), 100022 (2021)CrossRef
Zurück zum Zitat Morgan, J.: Systemic stablecoin and the defensive case for central bank digital currency: a critique of the bank of England’s framing. Res. Int. Bus. Financ. 62, 101716 (2022)CrossRef Morgan, J.: Systemic stablecoin and the defensive case for central bank digital currency: a critique of the bank of England’s framing. Res. Int. Bus. Financ. 62, 101716 (2022)CrossRef
Zurück zum Zitat Ozili, P. K.: eNaira central bank digital currency (CBDC) for financial inclusion in Nigeria. In: El Amine Abdelli, M., Shahbaz, M. (eds) Digital Economy, Energy and Sustainability. Green Energy and Technology, pp. 41-54. Springer, Cham (2023). https://doi.org/10.1007/978-3-031-22382-2_3 Ozili, P. K.: eNaira central bank digital currency (CBDC) for financial inclusion in Nigeria. In: El Amine Abdelli, M., Shahbaz, M. (eds) Digital Economy, Energy and Sustainability. Green Energy and Technology, pp. 41-54. Springer, Cham (2023). https://​doi.​org/​10.​1007/​978-3-031-22382-2_​3
Zurück zum Zitat Pakhnenko, O., Rubanov, P., Girzheva, O., Ivashko, L., Britchenko, I., and Kozachenko, L.: (2023). Cryptocurrency: Value Formation Factors and Investment Risks. WSEAS Trans. Finan. Eng. 1, 1−14 Pakhnenko, O., Rubanov, P., Girzheva, O., Ivashko, L., Britchenko, I., and Kozachenko, L.: (2023). Cryptocurrency: Value Formation Factors and Investment Risks. WSEAS Trans. Finan. Eng. 1, 1−14
Zurück zum Zitat Radic, A., Quan, W., Koo, B., Chua, B.L., Kim, J.J., Han, H.: Central bank digital currency as a payment method for tourists: application of the theory of planned behavior to digital Yuan/Won/Dollar choice. J. Travel Tour. Mark. 39(2), 152–172 (2022)CrossRef Radic, A., Quan, W., Koo, B., Chua, B.L., Kim, J.J., Han, H.: Central bank digital currency as a payment method for tourists: application of the theory of planned behavior to digital Yuan/Won/Dollar choice. J. Travel Tour. Mark. 39(2), 152–172 (2022)CrossRef
Zurück zum Zitat Sannidhi, S., Sharma, R.: Growth of crypto currency and pre-requisites for CBDC: a case study-Indian context. Int. J. Res. Eng. Sci. Manage. 5(9), 34–40 (2022) Sannidhi, S., Sharma, R.: Growth of crypto currency and pre-requisites for CBDC: a case study-Indian context. Int. J. Res. Eng. Sci. Manage. 5(9), 34–40 (2022)
Zurück zum Zitat Shkolnyk, I.O., Zakharkina, L.S.: Fintech innovations and transparency of finance: world practices and Ukrainian realities (2022) Shkolnyk, I.O., Zakharkina, L.S.: Fintech innovations and transparency of finance: world practices and Ukrainian realities (2022)
Zurück zum Zitat Teichmann, F.M.J., Falker, M.C.: Cryptocurrencies and financial crime: solutions from Liechtenstein. J. Money Laundering Control 24(4), 775–788 (2021)CrossRef Teichmann, F.M.J., Falker, M.C.: Cryptocurrencies and financial crime: solutions from Liechtenstein. J. Money Laundering Control 24(4), 775–788 (2021)CrossRef
Zurück zum Zitat Vučinić, M., Luburić, R.: Fintech, risk-based thinking and cyber risk. J. Central Bank. Theory Pract. 11(2), 27–53 (2022)CrossRef Vučinić, M., Luburić, R.: Fintech, risk-based thinking and cyber risk. J. Central Bank. Theory Pract. 11(2), 27–53 (2022)CrossRef
Zurück zum Zitat Wilmer, W.: Different designs of CBDC, the likelihood of bank disintermediation and the impact on monetary policy: a literary review (2023) Wilmer, W.: Different designs of CBDC, the likelihood of bank disintermediation and the impact on monetary policy: a literary review (2023)
Zurück zum Zitat Yang, J., Zhou, G.: A study on the influence mechanism of CBDC on monetary policy: an analysis based on e-CNY. PLoS ONE 17(7), e0268471 (2022)CrossRef Yang, J., Zhou, G.: A study on the influence mechanism of CBDC on monetary policy: an analysis based on e-CNY. PLoS ONE 17(7), e0268471 (2022)CrossRef
Zurück zum Zitat Zainal, M.A.G., et al.: A decentralized autonomous personal data management system in banking sector. Comput. Electr. Eng. 100, 108027 (2022)CrossRef Zainal, M.A.G., et al.: A decentralized autonomous personal data management system in banking sector. Comput. Electr. Eng. 100, 108027 (2022)CrossRef
Metadaten
Titel
The Challenges of New Central Banks Crypto-Currencies: CDBC
verfasst von
Mohamed Bechir Chenguel
Copyright-Jahr
2024
DOI
https://doi.org/10.1007/978-3-031-54009-7_2

    Marktübersichten

    Die im Laufe eines Jahres in der „adhäsion“ veröffentlichten Marktübersichten helfen Anwendern verschiedenster Branchen, sich einen gezielten Überblick über Lieferantenangebote zu verschaffen.