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Central bank digital currency: The new kid on the block?

Author

Listed:
  • Moser, Thomas

    (Swiss National Bank, Switzerland)

Abstract

The emergence of cryptocurrencies and stablecoins has prompted many central banks to study the issuance of digital central bank money. This raises the question of whether central banks should also use Blockchain technology. A notable challenge here is the scalability of Blockchain technology. Another challenge arises from the need to strike the right balance between know-your-customer requirements and privacy protection. Both problems are easier to solve without Blockchain. Blockchain, however, needs a means of payment. This paper therefore argues that central bank digital currency (CBDC) does not need Blockchain, but that Blockchain needs CBDC.

Suggested Citation

  • Moser, Thomas, 2022. "Central bank digital currency: The new kid on the block?," Journal of Digital Banking, Henry Stewart Publications, vol. 6(4), pages 359-365, March.
    • Handle: RePEc:aza:jdb000:y:2022:v:6:i:4:p:359-365
    as

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    More about this item

    Keywords

    Central bank digital currency; CBDC; Blockchain; stablecoins; privacy;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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