Tokenization: A Strategic Solution for Economic Recovery in Lebanon

Tokenisation: une solution stratégique pour la reprise économique au Liban

Imad Chehade ()
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Imad Chehade: CREAM - Centre de Recherche en Economie Appliquée à la Mondialisation - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université, LERN - Laboratoire d'Economie Rouen Normandie - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université

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Abstract: The World Bank considers that since 2019, Lebanon has been undergoing one of the three worst socio-economic crises in world history since 1850. This devastating crisis, fueled by high financial dollarization, increased public debt, and the artificial fixing of the exchange rate by the Bank of Lebanon (BDL), has its roots in various key factors (Rizkallah, 2021; Bitar, 2022). Faced with this worrying situation, we explore an overview of existing digital solutions. Cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs) emerge as potential pathways towards economic recovery. However, the adoption of these solutions in Lebanon presents challenges, notably due to limitations in banking infrastructure, existing regulations, and the specific needs of the Lebanese people. Moving from theory to practice, we suggest the creation of a tokenization solution, with the "CedarWave" stablecoin dedicated to money transfers and the "CedarSave" token for investments. This proposal aims to offer a reliable alternative for expatriates, whether Lebanese or foreign, and their families in Lebanon, paving the way for a robust and inclusive economic recovery.

Keywords: crise économique libanaise; blockchain; crypto-monnaies; stablecoins; monnaies numériques de banques centrales; tokens; CedarWave; CedarSave; stratégie de tokenisation (search for similar items in EconPapers)
Date: 2023-12-17
Note: View the original document on HAL open archive server: https://normandie-univ.hal.science/hal-04385698
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