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Digital Euro: A (Digital) Symbol of Progress and Integration in Europe

Author

Listed:
  • Camelia Ignătescu

    (Associate Professor PhD, Faculty of Law and Administrative Sciences, Stefan cel Mare University of Suceava, Romania)

  • Raluca Onufreiciuc

    (Ph.D. candidate at the University of Bucharest and the University of A Coruna, Bucharest/A Coruna, Romania/Spain, teaching assistant Faculty of Law and Administrative Sciences, Ștefan cel Mare University of Suceava)

Abstract

The emergence of crypto assets such as Bitcoin and Ether exposed a number of advantages that these digital assets based on distributed ledger technology (DLTs) can offer. As cash is becoming less and less popular in the eurozone, the European Central Bank (ECB) is currently looking at the scenario of creating a digital euro as a kind of central bank money that may be used by the general public. DLT may be used to tokenize central bank money via digital currencies (CBDCs) issued by central banks, as well as to digitally represent bank deposits. The purpose of this article is to analyse what are the solutions for the future digitization of the monetary and financial systems and if current CBDC projects and prototypes, including those by the Chinese and Swedish central banks and the attempts of the ECB, have the chance to succeed with or without DLT.

Suggested Citation

  • Camelia Ignătescu & Raluca Onufreiciuc, 2021. "Digital Euro: A (Digital) Symbol of Progress and Integration in Europe," Logos Universalitate Mentalitate Educatie Noutate - Sectiunea Drept/ Logos Universality Mentality Education Novelty - Section: Law, Editura Lumen, Department of Economics, vol. 9(1), pages 74-82, December.
    • Handle: RePEc:lum:rev13d:v:ix:y:2021:i:1:p:74-82
    DOI: https://doi.org/10.18662/lumenlaw/9.1/58
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    More about this item

    Keywords

    digital euro; European Central Bank; digital currency; DLT; financial security; CBCD;
    All these keywords.

    JEL classification:

    • A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate

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