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Private and Central Bank Digital Currencies : An Uprising of New Retail Payment Systems?
Schlotmann, Olaf; Walter, Arne - 2021
New and innovative payment systems are often hailed as historic steps forward. Central banks worldwide have encouraged technological progress in these systems to improve the accessibility and efficiency of payment. This has always been in the self-interest of central banks to fulfil their...
Persistent link: https://www.econbiz.de/10013211153
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Beyond Bitcoin : The Economics of Digital Currencies and Blockchain Technologies (Chapter 7: Enterprise Blockchains)
Halaburda, Hanna; Sarvary, Miklos; Haeringer, Guillaume - 2021
database: what is it and what for? 7.2. Limitation of Bitcoin’s blockchain for enterprise use. 7.3. Consensus for permissioned … (Platform-based Currencies), see https://ssrn.com/abstract=3135030. For Chapter 4 (Bitcoin and Emergence of Cryptocurrencies …
Persistent link: https://www.econbiz.de/10013213852
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Beyond Bitcoin : The Economics of Cryptocurrencies and Blockchain Technologies (Chapter 6: Smart Contracts and Blockchain)
Halaburda, Hanna; Sarvary, Miklos; Haeringer, Guillaume - 2021
. For Chapter 4 (Bitcoin and Emergence of Cryptocurrencies), see https://ssrn.com/abstract=3135043. For Chapter 5 (The Rich …
Persistent link: https://www.econbiz.de/10013213853
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The digital economy, privacy, and CBDC
Ahnert, Toni; Hoffmann, Peter; Monnet, Cyril - 2022
We study a model of financial intermediation, payment choice, and privacy in the digital economy. Cash preserves anonymity but cannot be used for more efficient online transactions. By contrast, bank deposits can be used online but do not preserve anonymity. Banks use the information contained...
Persistent link: https://www.econbiz.de/10013193453
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Central Bank Issued Digital Currencies
Howell, Bronwyn E.; Potgieter, Petrus H. - 2021
Digital payments are essential to the functioning of a modern economy, yet pose challenges to the prudential supervision of the financial system. At the same time, the use of physical cash persists in most countries due to its ease of use and the perceived or actual advantages of anonymity. A...
Persistent link: https://www.econbiz.de/10013246180
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Safe payments
Chiu, Jonathan; Davoodalhosseini, Seyed Mohammadreza; … - 2020 - Last updated: December 10, 2020
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
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Design choices for central bank digital currency: policy and technical considerations
Allen, Sarah; Capkun, Srdjan; Eyal, Ittay; Fanti, Giulia; … - 2020
permitting data mining for end-user services, policymakers, and law enforcement investigations and interventions. In this paper …
Persistent link: https://www.econbiz.de/10012256941
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CBDC : a systemic perspective
Bofinger, Peter; Haas, Thomas - 2020 - Preliminary version
implications of introducing CBDCs, we provide a price-theoretical banking model, which allows private non-banks to switch between …
Persistent link: https://www.econbiz.de/10012257324
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Should central banks issue digital currency?
Keister, Todd; Sanches, Daniel - 2019
We study how the introduction of a central bank-issued digital currency affects interest rates, the level of economic activity, and welfare in an environment where both central bank money and private bank deposits are used in exchange. Banks in our model are financially constrained, and the...
Persistent link: https://www.econbiz.de/10012058995
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The price of BitCoin : GARCH evidence from high frequency data
Ciaian, Pavel; Kancs, D'Artis; Rajcaniova, Miroslava - 2018
This is the first paper that estimates the price determinants of BitCoin in a Generalised Autoregressive Conditional … significant impact on the BitCoin price formation. The BitCoin price responds negatively to the BitCoin velocity, whereas positive … Heteroscedasticity framework using high frequency data. Derived from a theoretical model, we estimate BitCoin transaction demand and …
Persistent link: https://www.econbiz.de/10011948479