IDEAS home Printed from https://ideas.repec.org/p/zbw/swpcom/305241.html
   My bibliography  Save this paper

The digitalisation of central bank money: China advances while Europe hesitates

Author

Listed:
  • Hilpert, Hanns Günther
  • Tokarski, Paweł

Abstract

The number of digital currencies has increased significantly in recent years. So-called central bank digital currencies (CBDCs), created by central banks, are at the forefront of this development. Combining the advantages of an electronic means of payment - namely the speed and efficiency of transactions - with the stability and confidence that central banks enjoy, CBDCs will surely have a significant influence on the development of international payment systems in the coming years. Work on this topic has accelerated significantly in many parts of the world following the imposition of sanctions against Russia by the G7. The European Union (EU) and China are also engaged in planning and shaping their own CBDCs, but there are significant differences in the motivations, pace of progress and ambitions associated with these projects.

Suggested Citation

  • Hilpert, Hanns Günther & Tokarski, Paweł, 2024. "The digitalisation of central bank money: China advances while Europe hesitates," SWP Comments 48/2024, Stiftung Wissenschaft und Politik (SWP), German Institute for International and Security Affairs.
    • Handle: RePEc:zbw:swpcom:305241
    DOI: 10.18449/2024C48
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/305241/1/1906343020.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.18449/2024C48?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Central Bank; money; digitalisation; digital currencies; central bank digital currencies (CBDCs); sanctions against Russia; G7; European Union (EU); China; eurozone; blockchain technologies; People's Bank of China (PBoC); e-CNY; European Central Bank (ECB);
    All these keywords.

    JEL classification:

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:zbw:swpcom:305241. 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: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://www.swp-berlin.org/ .

    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.