THE FUTURE IN CENTRAL BANKS ACTIVITY – CENTRAL BANK DIGITAL CURRENCY –

Abstract

Developments in recent years in the technologies that underpin money transfers and financial investments have challenged banking in general and central banking in particular. On the one hand, with the onset and manifestation of the 2008 crisis, the banking system is being called into question as to whether it can be trusted, and on the other hand, also in the same historical context, blockchain technology is emerging and is seen as a threat by banks. Lately, there has been interest in Central Bank Digital Currencies (CBDCs) which are a digital replacement for banknotes and coins in physical form. In this paper we will highlight the features of CBDCs and the proposed Ethereum-based central bank money technology.