Redesigning Current Banknotes with Blockchain Infrastructure: A Model Proposal

Sabri Erdem () and Derya Altun
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Sabri Erdem: Dokuz Eylul University
Derya Altun: Izmir Metropolitan Municipality

Chapter Chapter 3 in Blockchain Economics and Financial Market Innovation, 2019, pp 41-59 from Springer

Abstract: Abstract The aim of the model proposed is to introduce a new hybrid system that can be used with less effort and requiring very few modifications in the existing structures. The model combines the advantages of both digital currency and paper-based banknote system. It uses QR Coded banknotes, digital wallets and blockchain technology to ensure, confirm and enhance the ownership of the banknotes. This model is intended to be used at the macro level by governmental policies since the money system can only be regulated by them.

Keywords: Banknotes; Digital money; Blockchain; Cryptocurrency (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-25275-5_3

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DOI: 10.1007/978-3-030-25275-5_3

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