The (Near) Future of Central Bank Digital Currencies Risks and Opportunities for the Global Economy and Society

The value of global cashless payments has been radically increasing worldwide. Despite cash being the most used payment instrument in the world, technological innovation and new consumer preferences are decisively transforming the way consumers pay and manage money. The COVID-19 pandemic may also ha...

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Övriga skapare: Bilotta, Nicola (Utgivare, redaktör, sammanställare), Botti, Fabrizio (Utgivare, redaktör, sammanställare)
Materialtyp: Elektronisk Bokavsnitt
Språk:engelska
Publicerad: Bern Peter Lang International Academic Publishers 2021
Serie:Global Politics and Security 7
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Beskrivning
Sammanfattning:The value of global cashless payments has been radically increasing worldwide. Despite cash being the most used payment instrument in the world, technological innovation and new consumer preferences are decisively transforming the way consumers pay and manage money. The COVID-19 pandemic may also have been an accelerator of the cashless mega-trend. Private players currently dominate the digital payment ecosystem, urging central banks to seek solutions to ensure public access to legal tender if cash is phased out. In this context, the idea of a Central Bank Digital Currency (CBDC) is gaining momentum. Nevertheless, there is a need to better understand the implications in terms of risks, benefits and potential costs of CBDCs. From privacy concerns to macroeconomic effects, these implications blur the boundaries of the payment and financial systems, challenging the core functions of our economy and society.
Fysisk beskrivning:1 electronic resource (202 p.)
ISBN:b18087
9783034342919
9783034342926
9783034342933
9783034342759
Tillgång:Open Access