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Money and Central Bank Digital Currency

dc.contributor.authorSayuri Shirai
dc.date.accessioned2019-12-31T14:16:24Z
dc.date.available2019-12-31T14:16:24Z
dc.date.issued2019-10-30
dc.identifier.urihttp://hdl.handle.net/11540/11248
dc.description.abstractThis study reviews the concepts and features of both central bank and private sector money and focuses on them in selected advanced and emerging economies. As a newly emerged form of private sector money, digital coins (cryptoassets) such as bitcoin have garnered much attention because their underlying distributed ledger technology enables decentralized verification while maintaining features similar to cash. Some central banks have expressed unease about digital coins because of their high volatility. However, digital coins are limited in their use as a payment tool. Thus, it is likely to take time before digital coins are a threat to commercial and central banks. Meanwhile, some central banks have examined the potential application of distributed ledger technology and the issuing of their own digital coins to the general public or financial institutions—the so-called central bank digital currency initiatives. So far, no central banks have found strong advantages to this because of several technical constraints. Given that the technology has progressed quickly, it is possible that central banks may increase their interest in digital currency proposals based on distributed ledger technology. Meanwhile, Sweden’s Riksbank has initiated a separate move by considering the issuance of deposit accounts and prepaid payment methods to the general public in the face of declining cash use. Other central banks have shown little interest in the Swedish initiative because of the potential adverse impacts on the banking system caused by a shift in retail deposits from commercial banks to the central bank.
dc.languageEnglish
dc.publisherAsian Development Bank Institute
dc.titleMoney and Central Bank Digital Currency
dc.typeWorking Papers
dc.subject.expertEconomic Crisis
dc.subject.expertEconomic Efficiency
dc.subject.expertEconomic Policies
dc.subject.expertFinancial Stability
dc.subject.expertFinancial Management System
dc.subject.expertFinancial Restructuring
dc.subject.expertCapital Market Development
dc.subject.expertMarket Development
dc.subject.expertEconomics
dc.subject.expertErosion
dc.subject.expertInternational Economics
dc.subject.expertMacroeconomic
dc.subject.expertMacroeconomic Analysis
dc.subject.expertPerformance Evaluation
dc.subject.expertImpact Evaluation
dc.subject.expertForeign and Domestic Financing
dc.subject.expertForeign Direct Investment
dc.subject.adbEconomies in transition
dc.subject.adbEconomic agreements
dc.subject.adbSocial condition
dc.subject.adbEconomic dependence
dc.subject.adbEconomic assistance
dc.subject.adbCrisis
dc.subject.adbTaxation
dc.subject.adbPublic Accounting
dc.subject.adbNational Budget
dc.subject.adbMunicipal Bonds
dc.subject.adbLocal Government
dc.subject.adbLocal Taxes
dc.subject.adbInternational Monetary Relations
dc.subject.adbInternational Financial Market
dc.subject.adbMultilateral Financial Institutions
dc.subject.adbEconomic Recession
dc.subject.adbMarket
dc.subject.adbCrisis
dc.subject.adbEconomic indicators
dc.subject.adbGrowth models
dc.subject.adbGross domestic product
dc.subject.adbMacroeconomics
dc.subject.adbEconomic forecast
dc.subject.adbBusiness Financing
dc.subject.adbInvestment Requirements
dc.subject.adbCorruption
dc.subject.adbMoney laundering
dc.subject.adbDigital currency
dc.subject.naturalFinancial crisis
dc.subject.naturalLabor economics
dc.subject.naturalRegional economics
dc.subject.naturalBusiness recessions
dc.subject.naturalMultilateral development banks
dc.subject.naturalRegulatory reform
dc.subject.naturalCapital
dc.subject.naturalExports
dc.subject.naturalEconomic development projects
dc.subject.naturalEconomic policy
dc.subject.naturalEconomic forecasting
dc.subject.naturalInvestment Requirements
dc.subject.naturalBanks
dc.subject.naturalInternational banks and banking
dc.subject.naturalCapital movements
dc.subject.naturalCentral banks and banking
dc.subject.naturalBills of exchange
dc.subject.naturalSwaps
dc.subject.naturalBanks and banking
dc.subject.naturalFinancial crisis
dc.subject.naturalCredit control
dc.subject.naturalCredit allocation
dc.subject.naturalCapital market
dc.subject.naturalInternational liquidity
dc.subject.naturalLiquidity
dc.subject.naturalExchange rate
dc.subject.naturalUse tax
dc.subject.naturalTaxing power
dc.subject.naturalState of taxation
dc.subject.naturalTax-sales
dc.subject.naturalTax revenue estimating
dc.subject.naturalTax planning
dc.subject.naturalSpendings tax
dc.subject.naturalSpecial assessments
dc.subject.naturalTax administration and procedure
dc.subject.naturalSales tax
dc.subject.naturalReal property and taxation
dc.subject.naturalProgressive taxation
dc.subject.naturalEffect of taxation on land use
dc.subject.naturalEffect of taxation on labor supply
dc.subject.naturalIntergovernmental tax relations
dc.subject.naturalInheritance and transfer tax
dc.title.seriesADBI Working Paper Series
dc.title.volumeNo. 1022
dc.contributor.imprintAsian Development Bank Institute
oar.themeFinance
oar.themeEconomics
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-010612
oar.authorShirai, Sayuri
oar.importTRUE
oar.googlescholar.linkpresenttrue


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    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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