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Though checks' popularity is now waning in favor of electronic payments, checks were, for much of the twentieth century … the check relative advantages that are only now being overcome by electronic payment technologies. -- checks ; payments …
Persistent link: https://www.econbiz.de/10003847304
It is proposed to create a National Payment System, which will allow on a qualitatively new level to solve two important tasks: strengthening the role of the state as the controller of the national currency turnover and overcoming corruption and shadow economy.The main idea of this new concept...
Persistent link: https://www.econbiz.de/10013135458
We use a simple model to study whether private payment systems based on bank deposits can provide the optimal level of safety. In the model, bank deposits backed by projects are subject to default risk that can be mitigated by a depositor's ex ante and ex post monitoring. Safe payment...
Persistent link: https://www.econbiz.de/10012388751
payments into RTR, SOE and Lynx. To that end we define a methodology for comparing the current and future payment instruments … that end-users will be faced with in the new payments landscape. Similarly, we develop a method to assess the current and … value of ACSS and LVTS payments might find its way to RTR due to changing end-user behaviour. Our analysis also suggests …
Persistent link: https://www.econbiz.de/10012243367
In this study, we provide a systemic perspective on central bank digital currencies (CBDC). We separate existing proposals for CBDCs into the perspective of new payment objects, made available by central banks to a broader public, and new payment systems, operated by central banks. From a...
Persistent link: https://www.econbiz.de/10012257324
An anonymous credential mechanism is a set of protocols that allows users to obtain credentials from an organization and demonstrate ownership of these credentials without compromising users' privacy. In this work, we construct the first secret-free and quantum-safe credential mechanism. The...
Persistent link: https://www.econbiz.de/10014456631
In April 2022, the Bank of Canada announced that it would continue to use a floor system to implement monetary policy by providing a sufficiently large quantity of settlement balances to enable the overnight repo rate to trade at close to the deposit rate. In contrast, the Bank's guiding...
Persistent link: https://www.econbiz.de/10014392970
Over millennia, mankind has used hard cash in various forms ranging from shells to gold coins and paper. More recently, cash has become unpopular in political circles, as it effectively restricts states’ power to tax (explicitly or via negative interest rates) or to survey and potentially...
Persistent link: https://www.econbiz.de/10011548098
As Canada continues to engage in a dialogue to develop the approach to modernizing its core payment systems, we analyze the core payment systems that exist in countries around the world. We study payment systems in 27 jurisdictions, encompassing a broad range of geographic regions, through three...
Persistent link: https://www.econbiz.de/10011489993
use in making payments. Public authorities and central banks around the world are closely monitoring developments in … the general public to make payments. There are several public policy arguments for a central-bank-issued digital currency …
Persistent link: https://www.econbiz.de/10011565226