DLT Options for CBDC

Sky Guo (), Joseph Kreitem () and Thomas Moser
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Sky Guo: Cypherium, New York, United States
Joseph Kreitem: Cypherium, New York, United States

Journal of Central Banking Theory and Practice, 2024, vol. 13, issue 1, 57-88

Abstract: This paper provides an overview of the distributed ledger technology (DLT) options available to central banks for issuing central bank digital currency (CBDC). We discuss the main requirements that a DLT solution must fulfill and analyze the various structures for imple­mentation offered by DLT — public, permissioned and private — and the implications that each has for the central bank and the ex­isting fi­nancial system. While a CBDC built on an open, permissionless system would provide the full functionality offered by DLT, it is also far more disruptive to the existing financial system and consequently re­quires more new in­frastructure on the part of the central bank.

Keywords: Central Bank Digital Currency (CBDC); Blockchain; Distributed Ledger Technology (DLT). (search for similar items in EconPapers)
JEL-codes: E42 E51 E52 E58 G2 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cbk:journl:v:13:y:2024:i:1:p:57-88

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