Related papers: Founding Digital Currency on Imprecise Commodity
The current crisis, at the time of writing, has had a profound impact on the financial world, introducing the need for creative approaches to revitalising the economy at the micro level as well as the macro level. In this informal analysis…
In recent years, electronic retail payment mechanisms, especially e-commerce and card payments at the point of sale, have increasingly replaced cash in many developed countries. As a result, societies are losing a critical public retail…
Many proposals for the design and implementation of digital wallets assume that the purpose of the wallet is to enable offline payments via custodial accounts, ignoring the real problems faced by individuals and businesses that engage in…
Data quality plays a key role in big data management today. With the explosive growth of data from a variety of sources, the quality of data is faced with multiple problems. Motivated by this, we study the multiple data quality improvement…
The use of digital money has become increasingly popular, but it comes with certain drawbacks. For instance, it can be challenging to make payments during power outages or internet failures. Additionally, some groups may find it difficult…
A fundamental problem for electronic commerce is the buying and selling of digital goods between individuals that may not know or trust each other. Traditionally, this problem has been addressed by the use of trusted third-parties such as…
Central Bank Digital Currency (CBDC) is a novel form of money that could be issued and regulated by central banks, offering benefits such as programmability, security, and privacy. However, the design of a CBDC system presents numerous…
Blockchain technology has spawned a vast ecosystem of digital currencies with Central Bank Digital Currencies (CBDCs) -- digital forms of fiat currency -- being one of them. An important feature of digital currencies is facilitating…
CDS (credit default swap) contracts that were initiated some time ago frequently have spreads and/or maturities that are not available on the current market of CDSs, and are thus illiquid. This article introduces an incomplete-market…
Central Bank Digital Currencies (CBDCs) have been implemented by only a handful of countries, but they are being explored by many more. CBDCs are digital currencies issued and backed by a central bank. Consumer trust can encourage or…
In India, post the demonetization exercise in 2016, digital payments have become extremely popular. Among them, the volume of transactions using Paytm wallets and UPI (Unified Payment Interface) have grown manifold. The lockdowns due to…
We present a scalable architecture for electronic retail payments via central bank digital currency and offer a solution to the perceived conflict between robust regulatory oversight and consumer affordances such as privacy and control. Our…
A digital currency is money in a digital form. In this model, maintaining integrity of the supply is a core concern, therefore protections against double-spending are often at the heart of a secure digital money scheme. Quantum money…
E-commerce, a type of trading that occurs at a high frequency on the Internet, requires guaranteeing the integrity, authentication and non-repudiation of messages through long distance. As current e-commerce schemes are vulnerable to…
We introduce a new economic system suited for Intangible Goods ({\sc ig}). We argue that such system can now be implemented in the real world using advance technics in distributed network computing and cryptography. The specification of the…
A major drawback in deploying central bank digital currencies (CDBC) is the offline puzzle, which requires that a CBDC must keep the provision given by cash, and, simultaneously, avoid double-spending, counterfeiting, and other issues. The…
We design a novel calibration procedure that is designed to handle the specific characteristics of options on cryptocurrency markets, namely large bid-ask spreads and the possibility of missing or incoherent prices in the considered data…
We propose the idea of a Quantum Cheque Scheme, a cryptographic protocol in which any legitimate client of a trusted bank can issue a cheque, that cannot be counterfeited or altered in anyway, and can be verified by a bank or any of its…
Digital signatures are crucial for securing Central Bank Digital Currencies (CBDCs) transactions. Like most forms of digital currencies, CBDC solutions rely on signatures for transaction authenticity and integrity, leading to major issues…
Digital payments traditionally rely on online communications with several intermediaries such as banks, payment networks, and payment processors in order to authorize and process payment transactions. While these communication networks are…