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The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with existing forms of money. This paper evaluates three different scenarios for the implementation of CBDC in terms of their monetary policy...
Persistent link: https://www.econbiz.de/10012954346
the bitcoin mining algorithm. In particular, transaction fees and transaction volume in the bitcoin system increase …Transaction fees in the bitcoin system work differently from those in conventional payment systems due to the design of … mechanism of fluctuating transaction fees in bitcoin introduces an extra cost of uncertainty to users, a back …
Persistent link: https://www.econbiz.de/10012839529
Persistent link: https://www.econbiz.de/10013173518
. We analyse price dynamics from 1980 to 2020 for gold and silver resorting to annual data. Regarding bitcoin we employ … hedging properties. Moreover, we also do so for Bitcoin since we consider it an appropriate asset due to its specific …
Persistent link: https://www.econbiz.de/10013170942
The aim of this paper is to analyze the demand of both traditional and new media of exchange – as cryptocurrencies and central bank digital currencies – proposing a novel specification of the demand for money. In this specification, the medium of payment (MOP) has three properties: the first...
Persistent link: https://www.econbiz.de/10012907412
The emergence of bitcoin poses an important question for monetary theorists: can bitcoin compete with or even replace … one money relative to another. We attempt to answer these questions in light of the emergence of bitcoin. In particular …
Persistent link: https://www.econbiz.de/10013227942
The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future. This paper considers the implications of the abandonment of the use of cash in the...
Persistent link: https://www.econbiz.de/10011926055
The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology …
Persistent link: https://www.econbiz.de/10011759869
Persistent link: https://www.econbiz.de/10012662328
The Bitcoin Market Potential Index conceptualizes and ranks the potential utility of bitcoin across 178 countries to … repression, financial crises (historical), and bitcoin penetration. Standardized and re-scaled country level data both indicate … that Argentina and Sub-Saharan Africa are the country and region, respectively, where bitcoin has the greatest potential …
Persistent link: https://www.econbiz.de/10012996346