The Role of Cryptocurrencies in Democratizing Money

Temperini, Jacopo; Corsi, Marcella

doi:10.2139/ssrn.4323686

Cited by 3 publications

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“…They establish a Fintech Index spanning from 2017 to 2019 and find that Singapore possesses the most robust Fintech ecosystem, followed by Thailand, Malaysia, Vietnam, Indonesia, and the Philippines. Jacopo Temperini and Marcella Corsi (2023) categorize currently available cryptocurrencies into four groups: Bitcoin, altcoins (alternative and/or complementary cryptocurrencies to Bitcoin), stablecoins (digital coins pegged to fiat currency), and central bank digital currencies (CBDCs). They describe the economic characteristics of each category and analyze their potential contributions to financial inclusion.…”

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confidence: 99%

Can Digital Cryptocurrencies Overturn Inclusive Finance? an Analysis of Its Significance Based on Chinese Internet Finance

Liu Yinqi, Dr. JIANG Sheng

2023

pjia

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This paper aims to explore the concept of digital cryptocurrency and its potential role in achieving inclusive finance. By drawing on relevant studies conducted in both China and abroad, we delves into the history and development, nature and types, as well as the benefits and risks associated with digital currencies. Additionally, the impact of digital currencies on deposit money is thoroughly examined, focusing on three key aspects: deposit currency stock, credit creation, and payment and settlement methods. Furthermore, the study presents a compelling case study on financial inclusion, using Alipay as an illustrative example. Building upon this case study, the paper offers insights into the future development of digital currencies. Although the future development of digital currency remains somewhat speculative, this research provides valuable considerations and outlooks Overall, the emergence of digital currency technology represents a momentous milestone in the financial landscape. As we move forward, understanding its potential impact on inclusive finance becomes increasingly crucial. This paper aims to shed light on this fascinating subject, paving the way for further research and discussions in the field

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Section: Literature Reviewmentioning

confidence: 99%

Can Digital Cryptocurrencies Overturn Inclusive Finance? an Analysis of Its Significance Based on Chinese Internet Finance

Liu Yinqi, Dr. JIANG Sheng

2023

pjia

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“…the ECB's plan for 'green bond' purchases (https://www.ecb. europa.eu/press/pr/date/2022/html/ecb.pr220704~4f48a72462.en.html)5 For a recent review and a comparison of the main differences between CBDC and private cryptocurrencies, seeTemperini and Corsi (2023).6 The issue of possible transaction tracking and the related questions of the protection of the privacy of CBDC users are a central component of the ongoing debate on the design of CBDC, especially for the European and American institutions (see e.g. ECB, 2020; Federal Reserve, 2022a).7 At the time of writing, it should be noted that the e-Yuan project is still under development.…”

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Is the Time Ripe for Helicopter Money? Growth Impact and Financial Stability Risks of Outright Monetary Transfers

2022

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Can Central Bank Digital Currencies be green and sustainable?

Alonso

2023

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<abstract> <p>Within digital finance, CBDCs are booming. As there are currently four operational CBDCs and as many as ninety-four central banks, jurisdictions or currency areas are testing or investigating the launch of a retail CBDC. The study was based on a sample of 34 countries or currency areas, which were classified into three groups. This research aimed to answer the following research questions: 1. Can CBDCs be considered green and sustainable? 2. How can we determine whether a CBDC is green and sustainable? 3. Which countries are closest to having green CBDCs? It has been calculated the total and the percentage of CBDCs that could be considered green or sustainable according to each country or currency area; in this model, it has been considered one monetary unit issued in a green/sustainable CBDC format for each point that a country obtains in this model that is adjusted according to four variables: Electricity prices for households and for businesses, renewable electricity production and CO<sub>2</sub> emissions. The countries that could launch a higher percentage of green/sustainable CBDCs in circulation would be the countries in the Eurozone and the United Kingdom, with these countries exceeding 70%. This was followed by Sweden (60%), Australia (58%) and the Bahamas (close to 54%). Only the Bahamas has its CBDC already launched and operational. Jamaica is also in the top ten and has its CBDC up and running. Japan closes the top 10 with just over 51%. Those countries with cleaner sources of power generation will be able to keep their CBDCs operating more sustainably. The environmental impact, however, will vary depending on the design choices of a CBDC and the country where it operates, according to the variables of this model.</p> </abstract>

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The Role of Cryptocurrencies in Democratizing Money

Cited by 3 publications

References 0 publications

Can Digital Cryptocurrencies Overturn Inclusive Finance? an Analysis of Its Significance Based on Chinese Internet Finance

Can Digital Cryptocurrencies Overturn Inclusive Finance? an Analysis of Its Significance Based on Chinese Internet Finance

Is the Time Ripe for Helicopter Money? Growth Impact and Financial Stability Risks of Outright Monetary Transfers

Can Central Bank Digital Currencies be green and sustainable?

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