IDEAS home Printed from https://ideas.repec.org/a/cbk/journl/v13y2024i1p57-88.html
   My bibliography  Save this article

DLT Options for CBDC

Author

Listed:
  • Sky Guo

    (Cypherium, New York, United States)

  • Joseph Kreitem

    (Cypherium, New York, United States)

  • Thomas Moser

    (Swiss National Bank, Zürich, Switzerland)

Abstract

This paper provides an overview of the distributed ledger technology (DLT) options available to central banks for issuing central bank digital currency (CBDC). We discuss the main requirements that a DLT solution must fulfill and analyze the various structures for imple­mentation offered by DLT — public, permissioned and private — and the implications that each has for the central bank and the ex­isting fi­nancial system. While a CBDC built on an open, permissionless system would provide the full functionality offered by DLT, it is also far more disruptive to the existing financial system and consequently re­quires more new in­frastructure on the part of the central bank.

Suggested Citation

  • Sky Guo & Joseph Kreitem & Thomas Moser, 2024. "DLT Options for CBDC," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 13(1), pages 57-88.
    • Handle: RePEc:cbk:journl:v:13:y:2024:i:1:p:57-88
    as

    Download full text from publisher

    File URL: http://www.cbcg.me/repec/cbk/journl/vol13no1-4.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Remo Nyffenegger, 2024. "A proposal for a layer-2 CBDC on a rollup," Digital Finance, Springer, vol. 6(3), pages 543-571, September.

    More about this item

    Keywords

    Central Bank Digital Currency (CBDC); Blockchain; Distributed Ledger Technology (DLT).;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G2 - Financial Economics - - Financial Institutions and Services

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbk:journl:v:13:y:2024:i:1:p:57-88. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/cbmgvme.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.