Central bank digital currency: Difference between revisions
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imported>Doug Williamson (Update to 2020.) |
imported>Doug Williamson (Add additional quotes and links.) |
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:''Bank of England - 2020.'' | :''Bank of England - 2020.'' | ||
:<span style="color:#4B0082">'''''Improving cross-border payments'''''</span> | |||
:"Many central banks are researching CBDC, and there are clear opportunities for CBDCs to improve cross-border payments and protect monetary sovereignty." | |||
:''Bank for International Settlements, Paper 115 - March 2021''. | |||
:<span style="color:#4B0082">'''''Supporting new technologies'''''</span> | |||
:"The introduction of a Central Bank Digital Currency (CBDC) would be a significant development which could help support the adoption of new technologies (e.g. blockchain) in financial services." | |||
:''Kalifa Review of UK Fintech - February 2021''. | |||
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* [[Altcoin]] | * [[Altcoin]] | ||
* [[Bank of England]] | * [[Bank of England]] | ||
* [[Bank for International Settlements]] | |||
* [[Bitcoin]] | * [[Bitcoin]] | ||
* [[Blockchain]] | * [[Blockchain]] | ||
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[https://www.bankofengland.co.uk/research/digital-currencies Central bank digital currencies - Bank of England] | [https://www.bankofengland.co.uk/research/digital-currencies Central bank digital currencies - Bank of England] | ||
[https://www. | [https://www.bis.org/about/bisih/topics/cbdc.htm Bank of International Settlements, Central Bank Digital Currency] | ||
[https://www.youtube.com/watch?app=desktop&v=srJMnI8WFRY ACT Webinar, Central Bank Digital Currencies, Overview of the Bank of England's Work, March 2021]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 10:12, 25 March 2021
(CBDC).
Digital currency issued and administered by a central bank.
- Bank of England considering CBDC
- "A Central Bank Digital Currency (CBDC) [in the UK] would allow households and businesses to directly make electronic payments using money issued by the Bank of England.
- We have not yet made a decision on whether to introduce CBDC.
- The Bank [of England] provides physical money in the form of banknotes, which can be used by households and businesses to make payments.
- We also provide electronic money, but this can only be used by banks and selected financial institutions.
- A Central Bank Digital Currency would make electronic money, issued by the Bank of England, available to all households and businesses.
- This would allow everyone to make electronic payments in central bank money.
- ... CBDC is sometimes thought of as equivalent to a digital banknote, although in some respects it may have as much in common with a bank deposit.
- Any CBDC would be introduced alongside – rather than replacing – cash and bank deposits."
- Bank of England - 2020.
- Improving cross-border payments
- "Many central banks are researching CBDC, and there are clear opportunities for CBDCs to improve cross-border payments and protect monetary sovereignty."
- Bank for International Settlements, Paper 115 - March 2021.
- Supporting new technologies
- "The introduction of a Central Bank Digital Currency (CBDC) would be a significant development which could help support the adoption of new technologies (e.g. blockchain) in financial services."
- Kalifa Review of UK Fintech - February 2021.
See also
- Account
- Altcoin
- Bank of England
- Bank for International Settlements
- Bitcoin
- Blockchain
- Central bank
- Crypto-assets
- Cryptocurrency
- Cryptography
- Currency
- Deposit
- Digital currency
- Distributed ledger
- e-krona
- e-money
- Ether
- Fiat currency
- Gold standard
- Libra
- Money
- Ripple
- Stablecoin
External links
Central bank digital currencies - Bank of England
Bank of International Settlements, Central Bank Digital Currency
ACT Webinar, Central Bank Digital Currencies, Overview of the Bank of England's Work, March 2021]
