Title: | Central bank digital currency |
Author: | Grym, Aleksi ; Heikkinen, Päivi ; Kauko, Karlo ; Takala, Kari |
Organization: |
Bank of Finland
Suomen Pankki |
Series: | BoF Economics Review |
Series year: | 2017 |
Series number: | 5/2017 |
Year of publication: | 2017 |
Publication date: | 21.11.2017 |
Pages: | 11 |
Subject (yso): | keskuspankit; maksuvälineet; digitalisoituminen; käteisraha; elektroninen raha; raha |
Keywords: | keskuspankkiraha; digitaalinen keskuspankkiraha; CBDC |
JEL: | G21; E58; E42 |
Other keywords: | money; central banks; e-money |
Abstract: | Central banks have traditionally issued cash to the general public. With digitalisation, banknotes are becoming a technically outdated payment instrument, and some central banks have explored the possibility of central bank-issued electronic money applicable to retail payments. Electronic central bank money would offer the public the possibility to hold central bank money in a potentially cashless future. In its present form, blockchain technology would probably not be a suitable solution, since it is unable to process a sufficiently large number of transactions. Electronic central bank money would potentially have significant implications for other areas of central bank policy, which should be meticulously analysed. |
Note: | This article was originally published in Finnish under the title ”Digitaalinen keskuspankkiraha”, BoF Economics Review 4/2017 (http://urn.fi/URN:NBN:fi:bof-201711031665). |
Rights: | https://helda.helsinki.fi/bof/copyright |
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