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Digital Programmable Euro, Libra, and CBDCs: Impact of Digital Payment Initiatives on European Banks

Author

Listed:
  • Philipp Sandner
  • Jonas Groß
  • Philipp Schulden
  • Lena Grale

Abstract

The announcement of the Facebook-initiated stablecoin “Libra” 2019 is partly perceived as a turning point for the traditional financial sector. Central banks, too, are currently engaged in intensive discussions about introducing their own digital currencies, known as central bank digital currencies (CBDCs). Philipp Sandner, Joans Groß, Philipp Schulden, and Lena Grale, of the Frankfurt School Blockchain Center, shed light on the perception of these payment initiatives by interviewing more than 50 high-ranking experts and examine the effects of digital programmable money on European banks.

Suggested Citation

  • Philipp Sandner & Jonas Groß & Philipp Schulden & Lena Grale, 2020. "Digital Programmable Euro, Libra, and CBDCs: Impact of Digital Payment Initiatives on European Banks," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(10), pages 47-52, October.
    • Handle: RePEc:ces:ifosdt:v:73:y:2020:i:10:p:47-52
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    References listed on IDEAS

    as
    1. Raphael Auer & Rainer Boehme, 2020. "The technology of retail central bank digital currency," BIS Quarterly Review, Bank for International Settlements, March.
    2. Codruta Boar & Henry Holden & Amber Wadsworth, 2020. "Impending arrival - a sequel to the survey on central bank digital currency," BIS Papers, Bank for International Settlements, number 107.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Elektronisches Geld; Virtuelle Währung; Bank; Eurozone; CBDC;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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