Token-based payment systems

Geoffrey Goodell

Chapter 52 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 250-255 from Edward Elgar Publishing

Abstract: In this chapter, we consider the roles of tokens and distributed ledgers in digital payment systems. We present a brief taxonomy of digital payment systems that use tokens, and we address the different models for how distributed ledger technology can support digital payment systems in general. We offer guidance on the salient features of digital payment systems, which we comprehend in terms of consumer privacy, token issuance, and accountability for system operators.

Keywords: Tokens; Distributed ledgers; Payment systems; Off-ledger tokens; Non-custodial assets; Wallets (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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