Central bank digital currencies
Ballis, Antonis Verousis, Thanos
Ballis, Antonis
Verousis, Thanos
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Publication Type
Book Chapter
Supervisor
Publication Year
2024
Journal
Book
Advances in Blockchain Research and Cryptocurrency Behaviour
Publication Volume
Publication Issue
Publication Begin page
137
Publication End page
156
Publication NUmber of pages
Collections
Abstract
The advent of Central Bank Digital Currencies (CBDCs) represents a transformative milestone in modern banking, capturing the attention of policymakers, financial institutions, and academics alike. This chapter provides a comprehensive overview of the expanding body of literature on CBDCs. It delves into the critical aspects that define their significance and potential challenges within the banking sector. The primary objective of this chapter is to dissect the foundational elements crucial for the success of CBDC initiatives. It also aims to uncover how CBDCs have the potential to reshape the dynamics of monetary policy transmission and influence the stability of the banking sector, necessitating a delicate balance. Moreover, as the narrative progresses, the focus shifts to the potential of CBDCs to enhance financial inclusion and their role in optimising payment systems. CBDCs are examined for their capacity to ignite financial innovation through integration with the existing infrastructure and the creation of novel financial products. Lastly, this chapter sheds light on the intricate legal and regulatory framework surrounding CBDCs. This framework encompasses both national and international coordination, cybersecurity concerns, and data privacy. Additionally, it discusses the imperative need for the transformation of commercial banking models driven by CBDCs, which, in turn, requires the adaptation of business strategies to remain competitive.
Research Projects
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Keywords
Blockchain Behaviors, Cryptocurrency Consumers, Bitcoin, Consumer Behaviours, Crypto Markets, Crypto Products