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Central bank cryptocurrencies

Morten Bech () and Rodney Garratt ()

BIS Quarterly Review, 2017

Abstract: New cryptocurrencies are emerging almost daily, and many interested parties are wondering whether central banks should issue their own versions. But what might central bank cryptocurrencies (CBCCs) look like and would they be useful? This feature provides a taxonomy of money that identifies two types of CBCC – retail and wholesale – and differentiates them from other forms of central bank money such as cash and reserves. It discusses the different characteristics of CBCCs and compares them with existing payment options.

JEL-codes: E41 E42 E51 E58 (search for similar items in EconPapers)
Date: 2017
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