JOURNAL ARTICLE

About Central Bank Digital Currencies (CBDCs).

  • Published In: Review of Pacific Basin Financial Markets & Policies, 2023, v. 26, n. 4. P. 1 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Francis, Jack Clark 3 of 3

Abstract

A Central Bank Digital Currency (CBDC) is a country's fiat currency that exists in a digital form. This digital currency becomes a liability on the balance sheet of a nation's central bank when it ceases to be a liability on the balance sheet of one of the nation's commercial banks and gets transferred to the central bank. Instead of printing paper money, the central bank can create CBDCs by opening electronic bank accounts at commercial banks that are backed by the full faith and credit of the nation's central bank. The goal of a CBDC is to provide the nation's government, businesses and consumers with a liquid and accessible currency that supplies privacy, transferability, convenience, and financial security. If CBDCs become highly popular, someday the world might operate with only one global CBDC. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Review of Pacific Basin Financial Markets & Policies. 2023/12, Vol. 26, Issue 4, p1
  • Document Type:Article
  • Subject Area:Diplomacy and International Relations
  • Publication Date:2023
  • ISSN:0219-0915
  • DOI:10.1142/S0219091523500285
  • Accession Number:174622350
  • Copyright Statement:Copyright of Review of Pacific Basin Financial Markets & Policies is the property of World Scientific Publishing Company and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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