Lessons learned from the world’s first CBDC

Show simple item record

dc.contributor Bank of Finland
dc.contributor.author Grym, Aleksi
dc.date.accessioned 2020-09-15T10:59:18Z
dc.date.available 2020-09-15T10:59:18Z
dc.date.issued 2020
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/17590
dc.description.abstract Central banks worldwide are currently exploring so called Central Bank Digital Currencies (CBDC). The Avant smart card system created by the Bank of Finland in the 1990’s can be considered the world’s first CBDC and the only one so far that has gone into production. Avant cards were based on smart card technology similar to that used in debit and credit cards today. Even though the system was initiated, developed, and for the first few years operated by the central bank, it was eventually spun off and sold to commercial banks. Once debit cards became less expensive and were upgraded to use smart card technology, Avant became obsolete and was shut down. The story of Avant can give us valuable insight contributing to the ongoing discussion regarding CBDC.
dc.format.extent 21
dc.language.iso ENG
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject Avant-kortti
dc.subject Suomen Pankki
dc.subject elektroninen raha
dc.subject.other CBDC
dc.subject.other e-money
dc.subject.other electronic money
dc.subject.other central banks
dc.title Lessons learned from the world’s first CBDC
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-202009152340
dc.series.name BoF Economics Review
dc.series.year 2020
dc.series.number 8/2020
dc.series.sortingnumber 0008
dc.date.publication 15.9.2020
dc.subject.yso keskuspankit
dc.subject.yso maksukortit
dc.subject.yso sähköinen raha
bof-internal.includedInCRIS 1
dc.type.okm D4

Files in this item

Total number of downloads: Loading...

Files Size Format View
BoFER_8_2020.pdf 256.6Kb PDF View/Open

This item appears in the following Collection(s)

Show simple item record