Seven lessons from the e-Peso pilot plan: The possibility of a Central Bank Digital Currency

Adolfo Sarmiento
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引用次数: 7

Abstract

The decision to introduce a central bank digital currency (CBDC) is part of the new challenges that central banks are facing as technology keeps moving. The e-Peso pilot plan, implemented between 2017 and 2018, could provide some key findings for central banks. In this sense, we can learn seven lessons from the e-Peso pilot plan: (i) reputation is key for central banks’ decision to introduce a CBDC; (ii) financial inclusion and cultural reasons are the main motivations; (iii) the technological solution as simple as possible; (iv) security aspects and traceable transfers are central for operational risk problems; (v) a token was a good solution for CBDC implementation; (vi) digital money was used for small payments and transfers; and (vii) CBDCs complement the existing means of payment. The conclusions highlight that CBDC choices are based not only on technical considerations but also on the cultural implications money use. The adoption of this new means of payment will be incremental but not reversible.

e-Peso试点计划的七个教训:央行数字货币的可能性
随着技术的不断发展,引入央行数字货币(CBDC)的决定是央行面临的新挑战的一部分。2017年至2018年间实施的e-Peso试点计划可能会为各国央行提供一些关键发现。从这个意义上说,我们可以从e-Peso试点计划中学到7个教训:(i)声誉是央行决定引入CBDC的关键;(ii)金融包容性和文化原因是主要动机;(三)技术方案尽可能简单;安全方面和可追踪的转移是操作风险问题的核心;(v)代币是CBDC实施的一个很好的解决方案;(六)数字货币被用于小额支付和转账;(七)cbdc补充现有支付手段。结论强调,CBDC的选择不仅基于技术考虑,还基于货币使用的文化影响。采用这种新的支付手段将是渐进的,但不可逆转。
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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CiteScore
1.70
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