A Proposal for Asia Digital Common Currency

Taiji Inui, Wataru Takahashi and Mamoru Ishida
Additional contact information
Taiji Inui: Chief Advisor, JICA CBM TC Project, Central Bank of Myanmar and ADB consultant for Cross-border Settlement Infrastructure Forum (CSIF)
Mamoru Ishida: Advisor, Itochu Corporation and Former Professor, Hannan University, JAPAN

No DP2020-19, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: This paper proposes to provide Asian common currency in the form of digital currency using technology such as blockchain by an international organization (eg AMRO) in East Asia. In this proposal, we assume that each present currency and the new digital common currency coexist in the respective economies for the time being. With the advent of digital currency, the common currency has become more technically feasible. Our proposal has the following three advantages; (1) merits as a digital currency, (2) merits as a common currency, and (3) a currency that is managed in a multilateral flamework. By the last point, it could prevent dominant control of an international currency by large countries, and political fairness can be secured. This proposal has a perspective to develop into a global digital currency in the future.

Keywords: Digital currency; Asia common currency; Distributed ledger technology; Blockchain, Account-based, Token-based (search for similar items in EconPapers)
JEL-codes: E42 F33 F36 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2020-06, Revised 2020-09
New Economics Papers: this item is included in nep-mac, nep-mon, nep-ore, nep-pay and nep-sea
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Citations: View citations in EconPapers (1)

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https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2020-19.pdf Revised version, 2020 (application/pdf)

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