From cash to private and public digital currencies
the risk of financial instability and “modern monetary Middle ages”
Informazioni aggiuntive
Autori
Belke A.,
Beretta E.
Tipo
Articolo pubblicato in rivista scientifica
Anno
2020
Lingua
Inglese
Sommario
The article analyzes the unstable equilibrium between further developing national monetary systems by means of (private/public) digital currencies while maintaining financial stability as secured by “tangible” store of values like notes/coins. Which are those elements of innovation improving today’s payments system? And, at the same time, which modern trends might destabilize the above-mentioned equilibrium? The paper will identify fundamental monetary principles to be respected, no matter what the innovation level in post-modern economies might soon look like. Cryptocurrencies will be also compared to central bank digital currencies (CBDC), which might soon complement or even replace notes and coins. But, is cash truly a “barbarous relic”? And, which impact might have its legal limitation (as occurring in several European countries)?
Parole chiave
Cash, Central bank, Cryptocurrencies, Digital currencies, Monetary system
Periodico
Economics and Business Letters
Volume
9
Numero ( Mese )
3
Pagine (o numero dell’articolo)
189-196
Diffusione
Licenza
CC BY-NC-ND
Visibilità
Pubblico
Status open access
Gold
