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From Bitcoin to Central Bank Digital Currencies: Making Sense of the Digital Money Revolution
| Content Provider | MDPI |
|---|---|
| Author | Helder, Sebastião Cunha, Paulo Melo, Paulo |
| Copyright Year | 2021 |
| Description | We analyze the path from cryptocurrencies to official Central Bank Digital Currencies (CBDCs), to shed some light on the ultimate dematerialization of money. To that end, we made an extensive search that resulted in a review of more than 100 academic and grey literature references, including official positions from central banks. We present and discuss the characteristics of the different CBDC variants being considered—namely, wholesale, retail, and, for the latter, the account-based, and token-based—as well as ongoing pilots, scenarios of interoperability, and open issues. Our contribution enables decision-makers and society at large to understand the potential advantages and risks of introducing CBDCs, and how these vary according to many technical and economic design choices. The practical implication is that a debate becomes possible about the trade-offs that the stakeholders are willing to accept. |
| Starting Page | 165 |
| e-ISSN | 19995903 |
| DOI | 10.3390/fi13070165 |
| Journal | Future Internet |
| Issue Number | 7 |
| Volume Number | 13 |
| Language | English |
| Publisher | MDPI |
| Publisher Date | 2021-06-27 |
| Access Restriction | Open |
| Subject Keyword | Future Internet Information and Library Science Central Bank Digital Currency (cbdc) Bitcoin Cryptocurrencies Digital Money |
| Content Type | Text |
| Resource Type | Article |
