Central Bank Digital Currencies (CBDCs): Exploring the concept of central bank digital currencies (CBDCs) and their potential implications for monetary policy and financial systems
Published 24-06-2024
Keywords
- CBDCs,
- financial stability
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Abstract
Central Bank Digital Currencies (CBDCs) have garnered significant attention in recent years as a potential evolution of money and payments. This paper provides a comprehensive overview of CBDCs, examining their definition, types, benefits, challenges, and implications for monetary policy and financial systems. The paper also discusses the role of CBDCs in promoting financial inclusion, reducing transaction costs, and enhancing the efficiency of monetary policy transmission. Additionally, it explores the potential risks associated with CBDCs, such as privacy concerns, financial stability risks, and the impact on commercial banks. Through a thorough analysis of existing literature and case studies, this paper aims to provide insights into the future of CBDCs and their impact on the global financial landscape.
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References
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