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Navigating the Purpose and Provision of CBDC

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  • George Pantelopoulos

Abstract

Following the rise of crypto-assets, digitization in payment habits and most recently in the wake of Covid-19, discussions surrounding the potential introduction of central bank digital currencies (CBDC) have intensified. Yet despite the breadth of literature on CBDC, misconceptions continue to linger with regard to both the purpose and provision of a CBDC. The aim of this article is to shed further light on both dimensions. This paper firstly argues that one purpose of CBDC is to ensure that privately issued means of payments remain fungible, and secondly, that many architectural arrangements for the provision of CBDC such as “synthetic CBDC” conflate with the very idea of CBDC constituting a claim on the central bank.

Suggested Citation

  • George Pantelopoulos, 2026. "Navigating the Purpose and Provision of CBDC," International Journal of Political Economy, Taylor & Francis Journals, vol. 55(1), pages 38-55, January.
    • Handle: RePEc:mes:ijpoec:v:55:y:2026:i:1:p:38-55
    DOI: 10.1080/08911916.2026.2651705
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