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Designing central bank digital currencies

Agur, Itai; Ari, Anil; Dell'Ariccia, Giovanni - 2019

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 a payment instrument depend on the number of...

Persistent link: https://www.econbiz.de/10012137068

Fintech: is this time different? : a framework for assessing risks and opportunities for central banks

Aaron, Meyer; Rivadeneyra, Francisco; Sohal, Samantha - 2017

We investigate the risks and opportunities to the mandates of central banks arising from fintech developments. Fintech …

Persistent link: https://www.econbiz.de/10011689315

Anonymous credentials : secret-free and quantum-safe

Kazmi, Raza Ali; Minwalla, Cyrus - 2023 - Last updated: September 28, 2023

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

Analysis of DeFi oracles

Deng, Xun; Beillahi, Sidi Mohamed; Minwalla, Cyrus; Du, Han - 2024

This paper presents OVer, a framework designed to automatically analyze the behaviour of decentralized finance (DeFi) protocols when subjected to a "skewed" oracle input. OVer firstly performs a symbolic analysis on the given contract and constructs a model of constraints. Then, the framework...

Persistent link: https://www.econbiz.de/10014577871

Project Stella and the impacts of fintech on financial infrastructures in Japan

Kishi, Michinobu - 2019

Project Stella studies the possible use of distributed ledger technology (DLT) on financial market infrastructures (FMIs). DLT solutions have the potential to improve the safety and efficiency of existing systems, as shown by research undertaken by central banks and FMIs. Yet, balancing...

Persistent link: https://www.econbiz.de/10012113883

Fintech and central bank digital currency in Australia

Emery, David - 2019

This paper sheds light on Australia's fast real-time retail payments system, the New Payments Platform (NPP), which was launched in February 2018 by a consortium of 13 financial institutions, including the Reserve Bank of Australia (RBA). The NPP operates on a 24/7 basis and allows financial...

Persistent link: https://www.econbiz.de/10012119337

How does the fintech sector react to signals from central bank digital currencies?

Li, Zhenghui; Yang, Cunyi; Huang, Zhehao - In: Finance research letters 50 (2022), pp. 1-5

Persistent link: https://www.econbiz.de/10014245335

Finance and technology : what is changing and what is not

Cecchetti, Stephen G.; Schoenholtz, Kermit L. - 2020

Persistent link: https://www.econbiz.de/10012309247

Fintech, cryptoassets, and central bank digital currency in the Republic of Korea

Kwon, Ohik; Park, Jongik; Kim, Byoung-Ki - 2019

In this study, we describe the fintech and cryptoassets-related trends in the Republic of Korea and review the measures … bank digital currency. Fintech in the Republic of Korea still accounts for only a small share of payment and settlement … services, but it can induce changes in the financial industry. It is, however, unlikely that cryptoassets will become widely …

Persistent link: https://www.econbiz.de/10012255000

Central bank digital currency and balance sheet policy

Fraschini, Martina; Somoza, Luciano; Terracciano, Tammaro - 2021

This paper studies a stylized economy in which the central bank can hold either treasuries or risky securities against central bank digital currency (CBDC) deposits. The key mechanism driving the results is the reduction in bank deposits that follows the introduction of a CBDC and its impact on...

Persistent link: https://www.econbiz.de/10012487980

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