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A Proposal for Asia Digital Common Currency

Author

Listed:
  • Taiji Inui

    (Chief Advisor, JICA CBM TC Project, Central Bank of Myanmar and ADB consultant for Cross-border Settlement Infrastructure Forum (CSIF))

  • Wataru Takahashi

    (Faculty of Economics, Osaka University of Economics and Research Fellow, Research Institute for Economics and Business Administration, Kobe University, JAPAN)

  • Mamoru Ishida

    (Advisor, Itochu Corporation and Former Professor, Hannan University, JAPAN)

Abstract

This paper proposes to provide Asian common currency in the form of digital currency using technology such as blockchain by an international organization (eg AMRO) in East Asia. In this proposal, we assume that each present currency and the new digital common currency coexist in the respective economies for the time being. With the advent of digital currency, the common currency has become more technically feasible. Our proposal has the following three advantages; (1) merits as a digital currency, (2) merits as a common currency, and (3) a currency that is managed in a multilateral flamework. By the last point, it could prevent dominant control of an international currency by large countries, and political fairness can be secured. This proposal has a perspective to develop into a global digital currency in the future.

Suggested Citation

  • Taiji Inui & Wataru Takahashi & Mamoru Ishida, 2020. "A Proposal for Asia Digital Common Currency," Discussion Paper Series DP2020-19, Research Institute for Economics & Business Administration, Kobe University, revised Sep 2020.
    • Handle: RePEc:kob:dpaper:dp2020-19
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    File URL: https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2020-19.pdf
    File Function: Revised version, 2020
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    Citations

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    Cited by:

    1. Y. Shapoval, 2020. "Central Bank Digital Currencies: Experience Of Pilot Projects And Conclusions For The Nbu," Economy and Forecasting, Valeriy Heyets, issue 4, pages 103-121.

    More about this item

    Keywords

    Digital currency; Asia common currency; Distributed ledger technology; Blockchain; Account-based; Token-based;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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