Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299093 
Year of Publication: 
2024
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 13 [Issue:] 1 [Year:] 2024 [Pages:] 57-88
Publisher: 
Sciendo, Warsaw
Abstract: 
This paper provides an overview of the distributed ledger technology (DLT) options available to central banks for issuing central bank digital currency (CBDC). We discuss the main requirements that a DLT solution must fulfill and analyze the various structures for implementation offered by DLT - public, permissioned and private - and the implications that each has for the central bank and the existing financial system. While a CBDC built on an open, permissionless system would provide the full functionality offered by DLT, it is also far more disruptive to the existing financial system and consequently requires more new infrastructure on the part of the central bank.
Subjects: 
Central Bank Digital Currency (CBDC)
Blockchain
Distributed Ledger Technology (DLT)
JEL: 
E42
E51
E52
E58
G02
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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