Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299055 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 11 [Issue:] 3 [Year:] 2022 [Pages:] 137-154
Publisher: 
Sciendo, Warsaw
Abstract: 
Computerization of social life enabled market participants to search for new forms of electronic payments. The share of cash in total payments is systematically decreasing, which poses the risk of being supplanted by other instruments, including cryptocurrencies. Central banks, therefore, faced the challenge of adjusting their issuing activities to the current social and market conditions, which resulted in the emergence of the concept and discussion of the introduction of digital cash. The purpose of this paper is to examine the abovementioned issues and indication of potential scenarios for the introduction of central bank digital currency with an indication of potential consequences for the banking sector. The thesis of this paper is the following statement: The emergence of digital money of the central bank may significantly change the nature of commercial banks' activities - including potentially eliminating their role in issuing cashless money.
Subjects: 
Central banking
commodity money
cash
central bankdigital currency
deposits
checks
cryptocurrencies
JEL: 
E12
E42
G21
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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