 Wholesale Central Banks Digital Currencies and New Opportunities for Interbank Settlements with the Prospect of Entering International TransactionsV. Yu. Cherkasov () Outlines of global transformations: politics, economics, law, 2024, vol. 17, issue 2 Abstract: A new generation of digital technologies that make it possible to speed up settlements and reduce their cost was born from crypto-currency projects, but the prospects of their economically effective and socially responsible application associate with central bank digital currency. The article discusses the issues of digitalization of central bank money in relation to interbank settlements, including for servicing cross-border payment turnover. So far, this topic has not found a significant response in Russian scientific journals. This publication aims to popularize it by summarizing and analyzing examples extracted from foreign experiments. The advantages of digitalization are compared with the capabilities of conventional payment systems. Descriptions and comparisons of the architectures of the new generation payment system are given, in the range of which it is possible to choose compromises between benefits, risks and costs in the search for the optimal solution. In conclusion, the prospects for the transition to an experiment with digitalization of wholesale payments in Russia are assessed following the upcoming introduction of the “retail†digital ruble Date: 2024 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ccs:journl:y:2024:id:1465 Access Statistics for this article More articles in Outlines of global transformations: politics, economics, law from Center for Crisis Society Studies |
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