Central bank digital currencies: policy and operational perspectives for India

Cryptocurrencies are an innovation that brings together computing, networking and an incentive regime to create secure, decentralized, peer-to-peer digital currency that lends itself to be used as a medium of exchange and as storage of value. Most Central Banks have been reluctant to permit cryptocu...

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Detalles Bibliográficos
Autores principales: Babu, Satish, Abraham, K M
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer India 2021
Materias:
Original Research
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8249829/
http://dx.doi.org/10.1007/s40012-021-00327-6
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author Babu, Satish
Abraham, K M
author_facet Babu, Satish
Abraham, K M
author_sort Babu, Satish
collection PubMed
description Cryptocurrencies are an innovation that brings together computing, networking and an incentive regime to create secure, decentralized, peer-to-peer digital currency that lends itself to be used as a medium of exchange and as storage of value. Most Central Banks have been reluctant to permit cryptocurrencies considering risks to the financial system, and have veered towards Central Bank Digital Currency or ‘Digital Fiat’ that shares several advantages of cryptocurrencies but are entirely mandated and managed by the Central Bank. This paper examines provides a background to CBDCs and discusses some of the policy and operational aspects that an Indian CBDC launch should consider.
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spelling pubmed-82498292021-07-02 Central bank digital currencies: policy and operational perspectives for India Babu, Satish Abraham, K M CSIT Original Research Cryptocurrencies are an innovation that brings together computing, networking and an incentive regime to create secure, decentralized, peer-to-peer digital currency that lends itself to be used as a medium of exchange and as storage of value. Most Central Banks have been reluctant to permit cryptocurrencies considering risks to the financial system, and have veered towards Central Bank Digital Currency or ‘Digital Fiat’ that shares several advantages of cryptocurrencies but are entirely mandated and managed by the Central Bank. This paper examines provides a background to CBDCs and discusses some of the policy and operational aspects that an Indian CBDC launch should consider. Springer India 2021-07-02 2021 /pmc/articles/PMC8249829/ http://dx.doi.org/10.1007/s40012-021-00327-6 Text en © CSI Publications 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Original Research
Babu, Satish
Abraham, K M
Central bank digital currencies: policy and operational perspectives for India
title Central bank digital currencies: policy and operational perspectives for India
title_full Central bank digital currencies: policy and operational perspectives for India
title_fullStr Central bank digital currencies: policy and operational perspectives for India
title_full_unstemmed Central bank digital currencies: policy and operational perspectives for India
title_short Central bank digital currencies: policy and operational perspectives for India
title_sort central bank digital currencies: policy and operational perspectives for india
topic Original Research
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8249829/
http://dx.doi.org/10.1007/s40012-021-00327-6
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