A digital euro for everyone: Can the European System of Central Banks introduce general purpose CBDC as part of its economic mandate?

Mooij, Annelieke A.M.

doi:10.1057/s41261-021-00186-w

Cited by 8 publications

(7 citation statements)

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“…Following an examination of the article titles and abstracts, several papers have been found that point to various issues and difficulties related to the introduction and use of CBDCs. The first subject has to do with legal restrictions and constitutional issues in the EU [ [68] , [69] , [70] ]. According to several authors, the legal restrictions and difficulties [ 71 ] are due to a lack of transparency, a significant danger of bank runs, and a lack of trust on the part of the issuer and receiver.…”

Section: Discussionmentioning

confidence: 99%

The rise in popularity of central bank digital currencies. A systematic review

Prodan,

Konhäusner,

Dabija

et al. 2024

Heliyon

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Section: Discussionmentioning

confidence: 99%

The rise in popularity of central bank digital currencies. A systematic review

Prodan,

Konhäusner,

Dabija

et al. 2024

Heliyon

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“…The exact role of a government and a central bank may not be the same in all cases, but in the cases implemented so far and the main ones proposed, both have a role. For example, an EU and UK implementation involves different responsibilities for the respective governments and central banks, but in both cases both institutions are involved (Morgan, 2022;Mooij, 2022). Typically, a government will pass certain related laws, and the central bank will implement and run the operations of a CBDC.…”

Section: Trust Built By Institutions Implementing Cbdcsmentioning

confidence: 99%

The Six Ways to Build Trust and Reduce Privacy Concern in a Central Bank Digital Currency (CBDC)

Zarifis,

Cheng

2023

Business Digital Transformation

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A Central Bank Digital Currency (CBDC) can offer several benefits for governments and citizens such as faster transactions at a lower cost, and richer information on consumers’ behaviour. It is important however that the consumer’s perspective on the adoption of CBDCs is not neglected. A CBDC needs consumers to trust and use it, to avoid either a complete failure, or a partial failure. A partial failure may lead to CBDCs being one of two parallel systems’ consumers use. This research uses a survey analysed by structural equation modelling to identify the six ways to build trust in a CBDC so it can be successfully adopted and used extensively: (1) Trust must be built in the government and the central bank issuing a CBDC, (2) expressed guarantees for the user of a CBDC must be provided, (3) the positive reputation of existing CBDCs active elsewhere must be utilized, (4) the automation and reduced human involvement achieved by a CBDC technology can be helpful, (5) specific trust building functionality of a CBDC can be utilized, and (6) specific privacy features of the CBDC wallet app and back-end processes such as anonymity can be beneficial.

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“…Al introducir las CBDC con acceso directo a través de los bancos centrales nacionales y los bancos comerciales, el BCE compite con los bancos comerciales. Esta competencia podría llegar a considerarse desleal 93 con base en la facultad exclusiva del BCE de emitir moneda de curso legal y el carácter público que tienen los bancos centrales nacionales 94 .…”

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Bitcoin vs CBDC

Santaolalla Montoya

2024

Cuad. derecho transnac.

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El 12 de enero de 2023, el protocolo Bitcoin cumplió 14 años desde su puesta en marcha. El documento fundacional de Bitcoin (el Whitepaper) fue dado a conocer al mundo el 31 de octubre del 2008, por Satoshi Nakamoto**, quien desapareció para siempre el 10 de diciembre del 2010. En cada una de sus etapas a lo largo de más de 40 años de evolución, siempre estuvieron presentes en su estructura y su columna vertebral la libertad financiera del individuo, como derecho fundamental que tiene todo ser humano. Ahora, los Bancos Centrales, al albur del éxito y toma firme de posiciones del mercado criptográfico y económico por parte de la moneda creada por Satoshi, pretenden aplicar con premura y precipitación un programa de implantación paulatina en todo el mundo para sus monedas digitales, estrategia que llevan ya muy adelantada en países como China, Panamá o Nigeria. En este artículo se analizan las monedas digitales de los bancos centrales (CBDC-central bank digital cryptocurrencies), en contraposición a Bitcoin, con sus implicaciones jurídicas: la fe pública de la cadena de bloques, la jurisprudencia en torno a bitcoin, la (ausencia de) rendición de cuentas de los bancos centrales, los peligros de la centralización y la concentración de poder en la toma de decisiones, la pérdida de privacidad y anonimato, y la necesidad de hablar de un derecho en el ciberespacio.

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A digital euro for everyone: Can the European System of Central Banks introduce general purpose CBDC as part of its economic mandate?

Cited by 8 publications

References 0 publications

The rise in popularity of central bank digital currencies. A systematic review

The rise in popularity of central bank digital currencies. A systematic review

The Six Ways to Build Trust and Reduce Privacy Concern in a Central Bank Digital Currency (CBDC)

Bitcoin vs CBDC

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