Comparative Analysis of Studies Determining the Essence of a Central Bank Digital Currency

Authors

  • Shamshinur Yakubova Ken Banking and Investment, Tashkent State University of Economics, Tashkent, Uzbekistan

Keywords:

distributed ledger technology, blockchain, digital asset, token, central bank digital currency, fiat money,, cryptocurrencies

Abstract

This study reviews academic work on aspects of digital currencies and provides a
methodical comparative analysis of the characteristics of different forms of money, including digital
currency and cryptocurrency. The results of the work indicate that digital currency is a new type of
money with unique properties that include the advantages of distributed ledger technology, as well
as the trust associated with traditional fiat currencies.

References

Anneke Kosse and Ilaria Mattei. Making headway – Results of the 2022 BIS survey on central bank digital currencies and crypto. BIS Papers No 136. Monetary and Economic Department July 2023

Bank for International Settlements. Central Bank Digital Currencies. Report. Committee on Payments and Market Infrastructures. 2018. № 174. 28 p.

Bank of England, «Central Bank Digital Currency Opportunities, challenges and design,» Bank of England Discussion Paper, March 2020.

Bank of Russia, “Digital ruble,” Report for public consultations, October 2020 (Банк России, «Цифровой рубль,» Доклад для общественных консультаций, Октябрь 2020)

Bindseil, U. (2020). Tiered CBDC and the Financial System. European Central Bank, Working Paper Series, 2351, 42.

BIS Working Papers No 976 Central bank digital currencies: motives, economic implications and the research frontier by Raphael Auer, Jon Frost, Leonardo Gambacorta, Cyril Monnet, Tara Rice and Hyun Song Shin Monetary and Economic Department November 2021

Blockchain Regulatory Certainty Act. https://www.congress.gov/bill/115th-congress/house-bill/6974/text

Central Bank Digital Currency Global Interoperability Principles W H I T E P A P E R J U N E 2 0 2 3

CRYPTOCURRENCIES: TRENDS, RISKS, MEASURES Report for public consultations Moscow 2022 (КРИПТОВАЛЮТЫ: ТРЕНДЫ, РИСКИ, МЕРЫ Доклад для общественных консультаций Москва 2022)

ECB, «Report on a digital euro,» ECB Report, pp. 1-55, October 2020

Kochergin, D. A. (2022). Central bank digital currencies: experience of introducing a digital yuan and development of a digital ruble conception. Russian Journal of Economics and Law, 16 (1), 51–78 (in Russ.). DOI: http://dx.doi.org/10.21202/2782-2923.2022.1.51-78

Genkin A. S., Mikheev A. A. Blockchain: How it works and what awaits us tomorrow. M., 2018. pp. 145–147 (Генкин А. С., Михеев А. А. Блокчейн: Как это работает и что ждет нас завтра. М., 2018. С. 145–147)

Hancock M., Vaizey E. Distributed Ledger Technology: beyond block chain. London, 2016. 5–6 p.

International Organization for Standardization (ISO). (2000). Blockchain and distributed ledger technologies: Vocabulary. 1st ed.; ISO/FDIS 22739:2020 (E); ISO). Geneva, Switzerland [22739]. https://www.iso.org/standard/73771.html

Kucherov I. I. Cryptocurrency (ideas of legal identification and legitimation of alternative means of payment). pp. 44–46 (Кучеров И. И.

Криптовалюта (идеи правовой идентификации и легитимации альтернативных платежных средств). C. 44–46.)

Mills D., Wang K., Malone B., Ravi A., Marquardt J., Chen C., Badev A., Brezinski T., Fahy L., Liao K., Kargenian V., Ellithorpe M., Ng W., Baird M. Distributed ledger technology in payments, clearing, and settlement. Washington, D.C., 2016, pp. 6, 10–12.

Official Monetary and Financial Institutions Forum (2019). Retail CBDCs. The Next Payments Frontier. https://www.omfif.org/wpcontent/uploads/ 2019/11/Retail-CBDCs-The-next-payments-frontier.pdf

Sakharov D. M. Central bank digital currencies: Key aspects and impact on the financial system. Finance: Theory and Practice. 2021;25(5):133-149.

T. Mancini-Griffoli и M. Martinez , «Casting light on central bank digital currency,» IMF Staff Discussion Note, № 8, 2018

Vaganova O.V., Sidibe Mahamadu, Pryadko E.A. 2022. Research and Analysis of Digital Currencies of the Central Banks (CBDC). Economics.

Information technologies, 49(3): 536–545 (in Russian). DOI 10.52575/2687-0932-2022-49-3-536-545

Vlasov A. V. Review of the notions of distributed ledger technologies and digital assets for harmonization of their joint use. Russian Journal of Economics and Law, 2022, Vol. 16, No. 4.

Yakubova, S. S., & Raimova, M. D. (2021). The role of effective implementation of monetary policy in a pandemic condition. Theoretical & Applied Science, (12 (104)), 349.

Shuxratovna, Y. S. (2021). Pul-kredit siyosatining iqtisodiy taraqqiyotga ta’sirini modellashtirishning innovatsion yondashuvlari. Raqamli iqtisodiyot va barqarorlik akademik jurnali, 311-318.

Yakubova, S. S. Inflation Targeting in Uzbekistan: Background and First Results. International Journal On Economics, Finance And Sustainable Development.

Yakubova, S., & Yakubova, S. (2023). ISSUES OF ACCOUNTING FOR EXCHANGE DIFFERENCES AND BORROWING COSTS IN THE FORMATION OF THE COST OF INVENTORIES IN ACCORDANCE WITH NAS AND IFRS. Economics and Innovative Technologies, 11(5), 75–81. https://doi.org/10.55439/EIT/vol11_iss5/a10

Yakubova, S. (2023). RAQAMLI TEXNOLOGIYALARNING RIVOJLANISHI VA RAQAMLI AKTIVLARNING MOHIYATI. Iqtisodiy Taraqqiyot Va Tahlil, 1(3), 84–92. https://doi.org/10.60078/2992-877X-2023-vol1-iss3-pp84-92

Shukhratovna, Y. S., & Ali, N. M. (2023). WAYS TO IMPROVE MARKETING ACTIVITIES IN THE TOURISM SECTOR. Gospodarka i Innowacje., 40, 137-143.

Downloads

Published

2024-02-27

How to Cite

Yakubova, S. . (2024). Comparative Analysis of Studies Determining the Essence of a Central Bank Digital Currency. Journal of Marketing and Emerging Economics, 4(2), 15–23. Retrieved from https://oajournals.net/index.php/jmee/article/view/2615

Issue

Section

Articles

Similar Articles

<< < 3 4 5 6 7 8 9 10 11 > >> 

You may also start an advanced similarity search for this article.