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Redesigning Current Banknotes with Blockchain Infrastructure: A Model Proposal

In: Blockchain Economics and Financial Market Innovation

Author

Listed:
  • Sabri Erdem

    (Dokuz Eylul University)

  • Derya Altun

    (Izmir Metropolitan Municipality)

Abstract

The aim of the model proposed is to introduce a new hybrid system that can be used with less effort and requiring very few modifications in the existing structures. The model combines the advantages of both digital currency and paper-based banknote system. It uses QR Coded banknotes, digital wallets and blockchain technology to ensure, confirm and enhance the ownership of the banknotes. This model is intended to be used at the macro level by governmental policies since the money system can only be regulated by them.

Suggested Citation

  • Sabri Erdem & Derya Altun, 2019. "Redesigning Current Banknotes with Blockchain Infrastructure: A Model Proposal," Contributions to Economics, in: Umit Hacioglu (ed.), Blockchain Economics and Financial Market Innovation, chapter 0, pages 41-59, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-25275-5_3
    DOI: 10.1007/978-3-030-25275-5_3
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    Cited by:

    1. Mbaye Mamadou, 2021. "Sustainability of cryptocurrency in blockchain technology for business development in African Countries," International Journal of Business Ecosystem & Strategy (2687-2293), Bussecon International Academy, vol. 3(4), pages 30-37, October.

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