Related papers: How to Issue a Central Bank Digital Currency
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 global financial system stands at an inflection point. Stablecoins represent the most significant evolution in banking since the abandonment of the gold standard, positioned to enable "Banking 2.0" by seamlessly integrating…
Today, financial institutions (FIs) store and share consumers' financial data for various reasons such as offering loans, processing payments, and protecting against fraud and financial crime. Such sharing of sensitive data have been…
We characterize digital cash as the digital equivalent of physical cash: secure, fungible, decentralized, directly controlled, privacy-preserving; but enhanced with qualitatively new functionality. It is extremely efficiently transferable…
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…
Central banks are actively exploring retail central bank digital currencies (CBDCs), with the Bank of England currently in the design phase for a potential UK retail CBDC, the digital pound. In a previous paper, we defined and explored the…
The registration, transfer, clearing and settlement of equities represents a significant part of economic activity currently underserved by modern technological innovation. In addition, recent events have revealed problems of transparency,…
With market capitalization exceeding USD250 billion by mid-2025, stablecoins have evolved from a crypto-focused innovation into a vital component of the global monetary structure. This paper identifies the characteristics of stablecoins…
Blockchain technology promises to democratize finance and promote social equity through decentralization, but questions remain about whether current implementations advance or hinder these goals. Through a mixed-methods study combining…
In this paper, we use a variety of machine learning methods to quantify the extent to which economic and technological factors are predictive of the progression of Central Bank Digital Currencies (CBDC) within a country, using as our…
The Financial system has witnessed rapid technological changes. The rise of Bitcoin and other crypto assets based on Distributed Ledger Technology mark a fundamental change in the way people transact and transmit value over a decentralized…
The U.S. dollar's status as the global reserve currency faces growing challenges from a 36 trillion dollar national debt, geopolitical shifts, and the emergence of digital currencies. This paper introduces the Quantum Reserve Token (QRT), a…
We construct a privacy-preserving, distributed and decentralized marketplace where parties can exchange data for tokens. In this market, buyers and sellers make transactions in a blockchain and interact with a third party, called notary,…
Public-key quantum money is a cryptographic protocol in which a bank can create quantum states which anyone can verify but no one except possibly the bank can clone or forge. There are no secure public-key quantum money schemes in the…
In this paper, we make a case that endogenous tokens such as cryptoassets are not money. First, we define and classify tokens found on public, permissionless ledgers, contrasting them with privately issued stablecoins and proposed CBDC…
Digital payments have replaced physical banknotes in many aspects of our daily lives. Similarly to banknotes, they should be easy to use, unique, tamper-resistant and untraceable, but additionally withstand digital attackers and 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…
We give an explicit definition of decentralization and show you that decentralization is almost impossible for the current stage and Bitcoin is the first truly noncentralized currency in the currency history. We propose a new framework of…
Atomic swaps enable the transfer of value between the cryptocurrencies of various blockchains without the need to trust an intermediary. In this paper, we propose the concept of atomic loans, which utilize atomic swap technology to allow…
This paper highlights the necessity to use modern blockchain technology in traditional banking sector to reduce frauds and enable high-security transactions on a permanent blockchain ledger. Reviewing different channels through which the…