Central bank money and blockchain: A payments perspective
Jürgen Bott
Journal of Payments Strategy & Systems, 2017, vol. 11, issue 2, 145-157
Abstract:
Although distributed ledger technology (DLT, aka ‘blockchain’) is associated with high production costs and low capacity, it represents a practical solution for ‘electronic cash’ and a starting point for the innovation of new kinds of transactions in digitised economies. Among other institutions, the European Central Bank is committed to exploring the potential of such new technologies. This paper provides a first reflection of central bank money on blockchain, and evaluates the possible scenarios. It argues that the digitisation of central bank money (backed by trust) via DLT can open new perspectives on a digital economy with efficient and secure market infrastructures, linking new technological concepts with existing benefits.
Keywords: distributed ledger technology; blockchain; payment systems; central bank money; interoperability (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:
Downloads: (external link)
https://hstalks.com/article/2623/download/ (application/pdf)
https://hstalks.com/article/2623/ (text/html)
Requires a paid subscription for full access.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2017:v:11:i:2:p:145-157
Access Statistics for this article
More articles in Journal of Payments Strategy & Systems from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().