CBDC Application Analysis and Prospects
DOI:
https://doi.org/10.54691/bcpbm.v45i.4866Keywords:
CBDC; Financial inclusion; Digital finance; Monetary policy.Abstract
With the increasing rise of digital currency, the central bank has begun to march into digital currency. This article reviews the research articles on CBDC to gain a deeper understanding of the research content and direction of CBDC. This article aims to review research on central bank digital currencies (CBDCs). Learn about the latest research directions on CBDC and evaluate the practical significance of CBDC and its contribution to the industry. According to the latest research, CBDC is defined as a means of payment equivalent to cash. The advantages and characteristics of using CBDC have also been proposed as the reasons why the central bank should issue them. The article also shows the relationship between CBDC and financial inclusion. Analysis of the current situation and prediction of the future development of CBDC, and some updated measures by regulators after the issuance of CBDC. The report has a certain contribution to what measures should be taken after the issuance of CBDC.
Downloads
References
Boar C, Wehrli A. (2021, January). Ready, steady, go? – Results of the third BIS survey on central bank digital currency. Bank for International Settlements. https://www.bis.org/publ/bppdf/bispap114.pdf
Yao Q. (2018). Experimental Research on Central Bank Digital Currency Prototype System. Journal of Software. 2018,29(09)
Fáykiss P, Nyikes Á, Szombati A. (n.d.). CBDC – an opportunity to support digital financial inclusion: Digital Student Safe in Hungary. Bank for International Settlements. https://www.bis.org/publ/bppdf/bispap123_i.pdf
Ozili, P.K. (2022), Can Central Bank Digital Currency Increase Financial Inclusion? Arguments for and Against*, Sood, K., Balusamy, B., Grima, S. and Marano, P. (Ed.) Big Data Analytics in the Insurance Market (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Bingley, pp. 241-249. https://doi.org/10.1108/978-1-80262-637-720221013
Liu X. (2021). Global legal digital currency status, development trends and regulatory policies. People's Tribune. 2021,(24)
Kumhof M, Noone C. (2018, May 25). Central Bank digital currencies - Design principles and balance sheet implications. Bank of England Working Paper No. 725.
Ozili P K. (2022, January 7). Central Bank digital currency research around the world: A review of literature. Journal of Money Laundering Control, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JMLC-11-2021-0126
Chu Y, Lee J, Kim S, Kim H, Yoon Y, Chung H. (2022, April 28). Review of offline payment function of CBDC considering security requirements. Applied Sciences. 2022; 12(9):4488. https://doi.org/10.3390/app12094488
Han X, Yuan Y, Wang F. (2019). A Blockchain-based Framework for Central Bank digital currency. IEEE Xplore
Ward O, Rochemont S. (2019, March). Understanding Central Bank Digital Currencies (CBDC). TAOStartup. https://taostartup.vn/wp-content/uploads/2020/07/Understanding-CBDCs-Final-disc.pdf
Barontini C, Holden H. (2019, February 13). Proceeding with caution - A survey on Central Bank digital currency. BIS Paper No. 101, Available at SSRN: https://ssrn.com/abstract=3331590
Ozili P K. (2018, December). Impact of digital finance on financial inclusion and stability. Sciencedirect
Sahay R, Čihák M, N’Diaye P, Barajas A, Mitra S, Kyobe A, Mooi, Y N, Yousefi S R. (2015). Financial Inclusion:Can It Meet Multiple Macroeconomic Goals? IMF. SDN/15/17
Kutzbach M, Lloro A, Weinstein J, Chu K. (n.d.). How America banks: household use of banking and financial services. FDIC.
Murakami D, Shchapov I, Viswanath-Natraj G. (n.d.). CBDCs, financial inclusion, and optimal monetary policy. Available at SSRN: https://ssrn.com/abstract=4102397
Song S, Liu D. (2021, February). Global competition in central bank digital currencies: drivers, trade-offs and trends. Comparison of economic and social systems. 2021,(02).
Zhong H, Li Y, Hao Y. (2022, May). Central Bank Digital Currency: New Trends in Global Competition and Cooperation. The Banker. 2022,(05).






