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As digital goods and services become an integral part of modern day society, the demand for a standardized and ubiquitous form of digital currency increases. And it is not just about digital goods; the adoption of electronic and mobile…
The People's Bank of China (PBOC) has launched an ambitious project to develop a digital currency for use in domestic, retail transactions, and is, by far, the most advanced globally in this regard. In addition to involving a diverse set of…
We analyse financial stability and welfare impacts associated with the introduction of a Central Bank Digital Currency (CBDC) in a macroeconomic agent-based model. The model considers firms, banks, and households interacting on labour,…
With the advancement of digital payment technologies, central banks worldwide have increasingly begun to explore the implementation of Central Bank Digital Currencies (CBDCs). This paper presents a comprehensive review of the latest…
Central banks are actively exploring central bank digital currencies (CBDCs) by conducting research, proofs of concept and pilots. However, adoption of a CBDC can risk fragmenting both payments markets and retail deposits. In this paper, we…
E-commerce in today's conditions has the highest dependence on network infrastructure of banking. However, when the possibility of communicating with the Banking network is not provided, business activities will suffer. This paper proposes…
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…
Crypto-currencies like Bitcoins are relatively recent phenomena on the online Internet landscape and an emerging force in the financial sector. While not conforming to traditional institutional practices, they are gaining increasing…
Digital currencies represent a new method for exchange and investment that differs strongly from any other fiat money seen throughout history. A digital currency makes it possible to perform all financial transactions without the…
Current digital payment solutions are fragile and offer less privacy than traditional cash. Their critical dependency on an online service used to perform and validate transactions makes them void if this service is unreachable. Moreover,…
Cryptocurrencies came to the world in the recent decade and attempted to offer a new order where the financial system is not governed by a centralized entity, and where you have complete control over your account without the need to trust…
The internet era has generated a requirement for low cost, anonymous and rapidly verifiable transactions to be used for online barter, and fast settling money have emerged as a consequence. For the most part, e-money has fulfilled this…
This research aims to provide a framework to assess the contribution of digital currencies to promote financial inclusion, based on a diagnosis of the landscape of financial inclusion and domestic and cross-border payments in Latin America…
A multidimensional financial system could provide benefits for individuals, companies, and states. Instead of top-down control, which is destined to eventually fail in a hyperconnected world, a bottom-up creation of value can unleash…
The web of today whether you prefer to call it web 2.0, web 3.0, web 5.0 or even the metaverse is at a critical stage of evolution and challenge, largely centered around its crisis of identity. Like teenagers who cannot assess properly…
Cryptocurrency refers to a type of digital asset that uses distributed ledger, or blockchain, technology to enable a secure transaction. Although the technology is widely misunderstood, many central banks are considering launching their own…
In the UK, the Bank of England and HM Treasury are exploring a potential UK retail CBDC, the digital pound, with one of their motivations being the potential role of the digital pound as an anchor for monetary and financial stability. In…
The fast-growing, market-driven demand for cryptocurrencies worries central banks, as their monetary policy could be completely undermined. Central bank digital currencies (CBDCs) could offer a solution, yet our understanding of their…
We discuss the pros of adopting government-issued digital currencies as well as a supranational digital iCurrency. One such pro is to get rid of paper money (and coinage), a ubiquitous medium for spreading germs, as highlighted by the…
Digital wallet as a software program or a digital device allows users to conduct various transactions. Hot and cold digital wallets are considered as two types of this wallet. Digital wallets need an online connection fall into the first…