DLT Options for CBDC1

IF 1.7 Q3 BUSINESS, FINANCE

Journal of Central Banking Theory and Practice Pub Date : 2024-01-13 DOI:10.2478/jcbtp-2024-0004

Sky Guo, Joseph Kreitem, Thomas Moser

引用次数: 0

Abstract

This paper provides an overview of the distributed ledger technology (DLT) options available to central banks for issuing central bank digital currency (CBDC). We discuss the main requirements that a DLT solution must fulfill and analyze the various structures for implementation offered by DLT — public, permissioned and private — and the implications that each has for the central bank and the existing financial system. While a CBDC built on an open, permissionless system would provide the full functionality offered by DLT, it is also far more disruptive to the existing financial system and consequently requires more new infrastructure on the part of the central bank.

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CBDC1 的 DLT 选项

本文概述了可供中央银行用于发行中央银行数字货币（CBDC）的分布式账本技术（DLT）选项。我们讨论了 DLT 解决方案必须满足的主要要求，并分析了 DLT 提供的各种实施结构--公共、许可和私有--以及每种结构对中央银行和现有金融体系的影响。虽然建立在开放、无许可系统基础上的 CBDC 可以提供 DLT 所提供的全部功能，但它对现有金融系统的破坏性要大得多，因此需要中央银行建立更多新的基础设施。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Central Banking Theory and Practice BUSINESS, FINANCE-

CiteScore

2.80

自引率

57.10%

发文量

审稿时长

7 weeks

期刊介绍： Journal of Central Banking Theory and Practice is a scientific journal dedicated to publishing quality papers and disseminating original, relevant and applicable economic research. Scientific and professional papers that are published in the Journal of Central Banking Theory and Practice cover theoretical and practical aspects of central banking, monetary policy, including the supervision issues, as well as banking and management in central banks. The purpose of the journal is to educate the general public about the key issues that the central bankers globally face, as well as about contemporary research and achievements in the field of central banking theory and practice.