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Author: Ashley Lannquist Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 37
Book Description
Financial inclusion is a key policy objective that central banks, especially those in emerging and low-income countries, are considering for retail central bank digital currency (CBDC). If properly designed to address the barriers to financial inclusion, CBDCs have the opportunity to gain acceptance by the financially excluded for digital payments. CBDC can then serve as an entry point to the broader formal financial system. CBDC has special aspects that may benefit financial inclusion, such as being a risk-free and widely acceptable form of digital money, availability for offline payments, and potentially lower costs and greater accessibility. However, CBDC is not a panacea to financial inclusion, and additional experience is needed to fully understand its potential impact.
Author: Ashley Lannquist Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 37
Book Description
Financial inclusion is a key policy objective that central banks, especially those in emerging and low-income countries, are considering for retail central bank digital currency (CBDC). If properly designed to address the barriers to financial inclusion, CBDCs have the opportunity to gain acceptance by the financially excluded for digital payments. CBDC can then serve as an entry point to the broader formal financial system. CBDC has special aspects that may benefit financial inclusion, such as being a risk-free and widely acceptable form of digital money, availability for offline payments, and potentially lower costs and greater accessibility. However, CBDC is not a panacea to financial inclusion, and additional experience is needed to fully understand its potential impact.
Author: Ozili, Peterson K. Publisher: IGI Global ISBN: Category : Business & Economics Languages : en Pages : 301
Book Description
In an era defined by rapid technological advancement, the nature of money finds itself at a crossroads, presenting both opportunities and challenges for global financial systems. The rise of Central Bank Digital Currencies (CBDCs) stands as a testament to this paradigm shift, offering the promise of efficiency, transparency, and financial inclusion. However, amidst the burgeoning interest in CBDCs, a pressing problem emerges: the lack of comprehensive understanding and insight into their development on a global scale. Recognizing this critical gap, Global Developments in Central Bank Digital Currency emerges as a guide for clarity in the complex landscape of monetary evolution. By synthesizing insights from diverse regions and jurisdictions, this book offers a holistic view of CBDC initiatives, unraveling the intricate web of motivations, challenges, and implications. From Africa to Asia, from Europe to Oceania, the book delves into country-specific developments, shedding light on the role of politics, culture, and informal institutions in shaping CBDC adoption.
Author: Muhammad Ashfaq Publisher: Walter de Gruyter GmbH & Co KG ISBN: 3110982390 Category : Business & Economics Languages : en Pages : 180
Book Description
Central Bank Digital Currencies and Global Financial System: Theory and Practice is the perfect book for anyone interested in the impact of digital currencies on the global financial system, providing valuable insights and analysis on the topic. The topic of central bank digital currencies (CBDCs) is particularly relevant in 2023 because the use of digital currencies is rapidly growing around the world, and many central banks are exploring the idea of developing their own CBDCs. This book offers readers an opportunity to gain a better understanding of CBDCs, including their history, differences with cryptocurrencies, and the potential impact of CBDCs on the future of the financial system. The book’s didactic approach breaks down complex topics into easily digestible chapters, allowing readers to easily understand and follow the progression of digital currencies. For those interested in the future of digital currencies, the book offers a chapter on future research directions and concluding remarks. Central Bank Digital Currencies and Global Financial System: Theory and Practice is a must-read for anyone interested in the intersection of finance and technology. By exploring the evolution of digital currencies and their impact on the global financial system, this book provides valuable insights for policymakers, financial professionals, and anyone looking to understand the future of money.
Author: Andreas Dombret Publisher: Walter de Gruyter GmbH & Co KG ISBN: 311100323X Category : Law Languages : en Pages : 265
Book Description
What is the future of banking and money? The road passes through data and digitalization at all levels of activity, from personal banking through publicly and privately issued digital currencies. But who is winning and losing ground in the banking sector? Do we really need central bank digital currencies and how should they and private digital currencies be designed and regulated to yield the maximum benefits while reducing the obvious dangers? How should we regulate the new digital technologies? This book ́brings you the answers of senior public sector officials, industry leaders and leading academics. It is the tenth title in the Institute for Law and Finance’s series on the future of the financial sector.
Author: Asian Development Bank Publisher: ISBN: 9789292700904 Category : Languages : en Pages : 0
Book Description
This publication explores the potential for central bank digital currencies to help promote financial inclusion. It considers how such currencies could leverage digital finance technologies and enhance the reach and value of formal financial products and services among the unbanked or underserved. It also looks at the challenges involved and how these could be addressed. The publication provides recommendations for policy makers and regulators on designing central bank digital currencies, establishing preconditions, and managing risk. It shares insights from the Asia-Pacific Financial Inclusion Forum, a policy initiative of the Asia-Pacific Economic Cooperation Finance Ministers' Process.
Author: Mr.Itai Agur Publisher: International Monetary Fund ISBN: 1513519883 Category : Business & Economics Languages : en Pages : 38
Book Description
We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of payment instruments dependent on the number of their users. CBDC can be designed with attributes similar to cash or deposits, and can be interest-bearing: a CBDC that closely competes with deposits depresses bank credit and output, while a cash-like CBDC may lead to the disappearance of cash. Then, the optimal CBDC design trades off bank intermediation against the social value of maintaining diverse payment instruments. When network effects matter, an interest-bearing CBDC alleviates the central bank's tradeoff.
Author: Josh Luberisse Publisher: Fortis Novum Mundum ISBN: Category : Business & Economics Languages : en Pages : 243
Book Description
The global financial landscape is on the brink of a monumental shift. Central Bank Digital Currencies (CBDCs) promise to revolutionize the way we think about money, transactions, and economic policy. But what does this mean for the future of finance, and how will it affect you? Authored by a leading expert in finance and technology, ‘The Future of Money: How Central Bank Digital Currencies Will Reshape The Global Financial System’ provides an in-depth exploration of CBDCs and their potential to transform the global economy. Drawing on extensive research and expert analysis, this book delves into the mechanics of CBDCs, their implementation by central banks, and the profound impacts they will have on international trade, financial inclusion, and monetary policy. CBDCs aren't just a new form of money; they are a total overhaul of our financial infrastructure, promising to make transactions faster, cheaper, and more accessible for people everywhere—from bustling urban centers to remote rural communities. But how will these digital currencies affect global trade, privacy, or even the sovereignty of nations? And what can we do to prepare for this imminent financial transformation? "The Future of Money" breaks down complex financial and technical concepts into clear, engaging language, making it accessible to both finance professionals and casual readers interested in the future of technology and money. Drawing on comprehensive research, expert interviews, and case studies, the book explores the potential of CBDCs to democratize financial services and outlines the challenges and opportunities that lie ahead. Whether you're a policy maker, an investor, or simply curious about the future of digital currencies, this book provides everything you need to know about the upcoming shifts in global finance. Prepare to discover: - How CBDCs work, and their potential impact on global economic dynamics. -The technological infrastructure behind digital currencies. -The potential risks and rewards of a digitally dominated financial future. -The benefits and challenges of integrating CBDCs into existing financial systems Strategic insights for businesses, governments, and individuals to navigate the new financial landscape. "The Future of Money" is not just a guide to future changes; it is a blueprint for readers worldwide to understand and navigate the new normal of digital finance. Don't miss out on understanding the future of money—embrace it, with this essential read. With a focus on both the opportunities and challenges presented by CBDCs, "The Future of Money" is an essential resource for financial professionals, policymakers, and anyone interested in the future of finance. Luberisse's authoritative and accessible style makes complex concepts understandable, providing readers with the knowledge they need to navigate the digital transformation of global finance. Prepare to be enlightened and empowered as you explore the cutting-edge of digital finance. Discover how CBDCs could democratize financial services, enhance efficiency, and ensure stability in the global financial system. Whether you're a seasoned finance expert or simply curious about the future of money, this book offers a comprehensive blueprint for understanding and embracing the financial revolution ahead.
Author: Mr.Tobias Adrian Publisher: International Monetary Fund ISBN: 1498324908 Category : Business & Economics Languages : en Pages : 20
Book Description
This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
Author: Kaur, Guneet Publisher: IGI Global ISBN: Category : Business & Economics Languages : en Pages : 380
Book Description
In the ever-evolving landscape of global finance, the rise of Central Bank Digital Currencies (CBDCs) has introduced a myriad of challenges that demand immediate scholarly attention. The accelerating pace of digital transformation, coupled with the intricate dynamics of these novel currencies, poses significant hurdles in their widespread adoption. From privacy concerns to the technological complexities involved, the academic community finds itself at the forefront of deciphering the multifaceted challenges inherent in the CBDC landscape. Addressing this imperative need for comprehensive analysis is the groundbreaking publication, Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges. Within the pages of this compelling work, scholars will encounter a meticulous exploration of the intricate evolution of money, navigating from traditional barter systems to the digital era. The catalytic role of Bitcoin in reshaping the financial landscape serves as a cornerstone, laying the foundation for a profound understanding of the cryptocurrency fundamentals that underpin CBDCs. This book delves into the conceptual frameworks and technological models shaping CBDCs, aiming to illuminate the complex challenges faced by central banks, governments, and financial institutions in their pursuit of digital currency integration.
Author: Ashley Lannquist
Author: Ashley Lannquist
Author: Ozili, Peterson K.
Author: Muhammad Ashfaq
Author: Andreas Dombret
Author: Asian Development Bank
Author: Mr.Itai Agur
Author: Josh Luberisse
Author: Group of Ten. Committee on Payment and Settlement Systems
Author: Mr.Tobias Adrian
Author: Kaur, Guneet