Related papers: How to Issue a Central Bank Digital Currency
Modern distributed data management systems face a new challenge: how can autonomous, mutually-distrusting parties cooperate safely and effectively? Addressing this challenge brings up questions familiar from classical distributed systems:…
In a quantum money scheme, a bank can issue money that users cannot counterfeit. Similar to bills of paper money, most quantum money schemes assign a unique serial number to each money state, thus potentially compromising the privacy of the…
Blockchain technology is the first successful Bitcoin Network. It enables the ledger to become more decentralized and secure. Since it is not limited to bitcoin and controlled by third parties by government, corporations or banks, the…
Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on…
Digital payment systems have become a cornerstone of consumer finance in Africa. Prominent payment categories include money transfer applications, mobile money, cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).…
Today there is considerable interest in deploying blockchains and decentralized ledger technology as a means to address the deficiencies of current financial and digital asset infrastructures. The focal point of attention in many projects…
In the 1970s, Wiesner introduced the concept of quantum money, where quantum states generated according to specific rules function as currency. These states circulate among users with quantum resources through quantum channels or…
Stablecoins, which are primarily intended to function as a global reserve of value are insubstantial in their design and present many failure points. The primary mechanism to enable these coins to hold on to a fixed value is by backing them…
Since its advent in 2009, Bitcoin, a cryptography-enabled peer-to-peer digital payment system, has been gaining increasing attention from both academia and industry. An effort designed to overcome a cluster of bottlenecks inherent in…
As a disruptive technology, blockchain, particularly its original form of bitcoin as a type of digital currency, has attracted great attentions. The innovative distributed decision making and security mechanism lay the technical foundation…
This Request For Comment (RFC) is a proposal for a new protocol to use money over the Internet. Features like a distributed architecture, a published cryptographic algorithm, a minimal authority responsibility, the absence of fees will make…
We have entered an era where the importance of decentralized solutions has become more obvious. Blockchain technology and its derivatives are distributed ledger technologies that keep the registry of data between peers of a network. This…
Bitcoin and Ethereum are novel mechanisms for decentralizing the concept of money and computation. Extending decentralization to the human identity concept, we can think of using blockchain for creating a list of verified human identities…
Internet of quantum blockchains (IoB) will be the future Internet. In this paper, we make two new contributions to IoB: developing a block based quantum channel networking technology to handle its security modeling in face of the quantum…
While classical money can be copied, it is impossible to copy quantum money in principle, with only the bank that issues it knowing how to generate it, meaning only the bank can make exact copies. Not all reliable banks, such as central…
Modern societies have adopted government-issued fiat currencies many of which exist today mainly in the form of digits in credit and bank accounts. Fiat currencies are controlled by central banks for economic stimulation and stabilization.…
Our study provides a survey on how existing stablecoins-- cryptocurrencies aiming at price stabilization-- peg their value to other assets, from the perspective of Decentralized Payment Systems (DPSs). This attempt is important because…
Over 90% of exchange trading on crypto options has always been on the Deribit platform. This centralised crypto exchange only lists inverse products because they do not accept fiat currency. Currently, fiat-based traders can only make…
This article discusses the implementation of programmable money on DLT-based CBDCs. After briefly introducing what programmable money is, we enumerate some initiatives worldwide and discuss the critical steps for implementation. We look at…
Blockchain technology has changed how people think about how they used to store and trade their assets, as it introduced us to a whole new way to transact: using digital currencies. One of the major innovations of blockchain technology is…