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Central bank digital currency

Aleksi Grym, Päivi Heikkinen, Karlo Kauko and Kari Takala

No 5/2017, BoF Economics Review from Bank of Finland

Abstract: Central banks have traditionally issued cash to the general public. With digitalisation, banknotes are becoming a technically outdated payment instrument, and some central banks have explored the possibility of central bank-issued electronic money applicable to retail payments. Electronic central bank money would offer the public the possibility to hold central bank money in a potentially cashless future. In its present form, blockchain technology would probably not be a suitable solution, since it is unable to process a sufficiently large number of transactions. Electronic central bank money would potentially have significant implications for other areas of central bank policy, which should be meticulously analysed.

Keywords: money; central banks (search for similar items in EconPapers)
JEL-codes: G21 E58 E42 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofecr:52017

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