Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Business and Policy Studies
Series Vol. 8 , 13 September 2023
Open
Access | Article
Studies on Current Situation of Private Digital Currency and Central Bank Digital Currency
* Author to whom correspondence should be addressed.
Abstract
Digital currency is one of the vital innovative products of Fintech and it has influenced the whole financial industry and supervision field. It first came with personal digital currency, and it changed the forms, circulation, and payment methods of traditional currencies, and different currencies have their own intrinsic value. In the meantime, the central banks of various countries have also tried to control digital currency. Central banks reduce the cost of issuing currency and improve the efficiency of payment. Moreover, the regulatory authorities of various countries have improved the rules when facing the security problems of digital currency. The paper, through methods of qualitative research and literature review, focuses on three parts, which include the difference between private digital currency and central bank digital currency; the difference between each private digital currency; and the difference between central bank digital currencies in various countries. It hopes to provide some insights for further development in this field.
Keywords
private digital currency, CBDC, cryptocurrency, blockchain, decentralized technology
References
1. Afzal, Ayesha. “Cryptocurrencies, Blockchain and Regulation: A Review.” THE LAHORE JOURNAL OF ECONOMICS 24.1 (2019): 103–130. Web.
2. Understanding Central Bank Digital Currencies (CBDC) By Orla Ward Sabrina Rochemont
3. Kaplanov, Nikolei M. “Nerdy Money: Bitcoin, the Private Digital Currency, and the Case against Its Regulation.” SSRN Electronic Journal, 2012.
4. Sun, Xiaoyue, and Miaomiao Xu. Analysis of the Development Status of Global Blockchain.
5. “Money and Payments: The U.S.Dollar in the Age of Digital TransformationJanuary 2022.”Federalreserve.gov
6. Cœuré, B., Loh, J., 2018. Central Bank digital currencies 34. https://www.bis.org/cpmi/publ/d174.pdf
7. Ba, Shusong, et al. “The Development Status and Trend of Global Digital Currency.” https://doi.org/10.19647/j.cnki.37-1462/f.2020.11.001.
8. Casting Light on Central Bank Digital Currency Tommaso Mancini-Griffoli, Maria Soledad Martinez Peria, Itai Agur, Anil Ari, John Kiff, Adina Popescu, and Celine Rochon
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-915371-43-0
- ISBN (Online)
- 978-1-915371-44-7
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/8/20230279
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited