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On the possibility of a cash-like CBDC

Author

Listed:
  • Armelius, Hanna
  • Claussen, Carl Andreas
  • Hull, Isaiah

Abstract

We explain why all CBDCs will need a ledger that keeps track of CBDC ownership regardless of whether they are “token-based”, “DLT-based” or “on a blockchain”; and regardless of how we define these terms. Consequently, token-based CBDCs appear not to have a greater capacity for providing payments that are peer-to-peer, offline or anonymous like cash than “account-based” CBDCs.

Suggested Citation

  • Armelius, Hanna & Claussen, Carl Andreas & Hull, Isaiah, 2021. "On the possibility of a cash-like CBDC," EconStor Preprints 231485, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:231485
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    File URL: https://www.econstor.eu/bitstream/10419/231485/1/on-the-possibility-of-a-cash-like-cbdc.pdf
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    Citations

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    Cited by:

    1. Dionysopoulos, Lambis & Marra, Miriam & Urquhart, Andrew, 2024. "Central bank digital currencies: A critical review," International Review of Financial Analysis, Elsevier, vol. 91(C).
    2. Ferry Syarifuddin & Toni Bakhtiar, 2021. "Monetary Policy Strategy In The Presence Of Central Bank Digital Currency," Working Papers WP/09/2021, Bank Indonesia.
    3. Ozili, Peterson K, 2022. "Central bank digital currency research around the World: a review of literature," MPRA Paper 111389, University Library of Munich, Germany.

    More about this item

    Keywords

    CBDC; Tokens; Offline;
    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

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