COVID-19 PANDEMIC AND CENTRAL BANK DIGITAL CURRENCY AS THE FUTURE OF MONEY

Çiğdem Yılmaz Özsoy
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Çiğdem Yılmaz Özsoy: İstanbul Universitesi

Ekonomi Maliye Isletme Dergisi, 2020, vol. 3, issue 1, 1-9

Abstract: Coronavirus disease, which was first detected in Wuhan, has spread globally, causing coronavirus pandemic in 2019-2020. Coronavirus disease has caused concerns about viral transmission through cash, reducing the use of banknotes and coins and causing changes in the way of people’s payment system. This brought the introduction of the “Central Bank Digital Currency” as a new digital payment system, which is thought to be resistant to a wide range of threats. This article provides a comprehensive overview of Finance and Investment readers about the Central Bank Digital Currencies (CBDC). The interest in Central Bank Digital Currencies’ arises from the developments that started with the 2008 crisis, such as the emergence of cryptocurrencies and the rise of digital transactions and reduced cash use. Some large Central Banks are actively investigating the introduction of sovereign digital currencies. In this study, how the Central Bank Digital Currency can transform all aspects of the monetary system and facilitate the systematic and transparent execution of monetary policy is examined through the examples of E-Peso and E-Krona.

Keywords: COVID-19; Central Bank; Digital Currency; E-Peso; E-Krona (search for similar items in EconPapers)
JEL-codes: A12 E58 E59 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:gnx:emid43:2020-3-1-725549

DOI: 10.46737/emid.725549

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