Academic literature on the topic 'Digital currency'

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Journal articles on the topic "Digital currency"

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Zhang, Xinuo. "Studies on Current Situation of Private Digital Currency and Central Bank Digital Currency." Advances in Economics, Management and Political Sciences 8, no. 1 (September 13, 2023): 55–60. http://dx.doi.org/10.54254/2754-1169/8/20230279.

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Digital currency is one of the vital innovative products of Fintech and it has influenced the whole financial industry and supervision field. It first came with personal digital currency, and it changed the forms, circulation, and payment methods of traditional currencies, and different currencies have their own intrinsic value. In the meantime, the central banks of various countries have also tried to control digital currency. Central banks reduce the cost of issuing currency and improve the efficiency of payment. Moreover, the regulatory authorities of various countries have improved the rules when facing the security problems of digital currency. The paper, through methods of qualitative research and literature review, focuses on three parts, which include the difference between private digital currency and central bank digital currency; the difference between each private digital currency; and the difference between central bank digital currencies in various countries. It hopes to provide some insights for further development in this field.
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SÖNMEZ, ASUMAN. "DIGITAL CURRENCY BITCOIN." TURKISH ONLINE JOURNAL OF DESIGN, ART AND COMMUNICATION 4, no. 3 (July 1, 2014): 1–14. http://dx.doi.org/10.7456/10403100/001.

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Tachscherer, Balázs, and Andrea Benedek. "Digital Currency Revolution." Acta Carolus Robertus 11, no. 2 (December 28, 2021): 55–72. http://dx.doi.org/10.33032/acr.2646.

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Background. Bitcoin protocol was released in 2009, which created a revolutionary virtual currency, the Bitcoin. Many cryptocurrencies have appeared in the last decade, and as a result nowadays approximately 4940 cryptocurrencies are registered, and new ones emerge almost every day. Majority of the central banks do not accept these cryptocurrencies as real currencies, rather they draw attention for their dangers and risks. At the same time, despite warnings, the number of cryptocurrency transactions has exploded. Research aims. The aim of this research is to examine the investors’ investing habits, motivations and study the acceptance of innovation. Our aims are to explore those habits and motivations, which are obstruct or incite investors’ investing habits. Also, one of our aims is to study how cryptocurrency investors open for innovations and which adaption categories they can be classified into. Methodology. During the research process, the professional bibliography of the academic basis for cryptocurrencies had been reviewed. We used the results of previous research in our study whilst we examined the investing, savings habits and motivations of the Hungarian population. Everett Rogers’ theory of innovation played a vital role in our research, mostly that is what our own research was based on. During the primary research we conducted a questionnaire survey, which results were analyzed using mathematical-statistical models. Key findings. The main motivation for cryptocurrency investors is gaining income, wealth and seeking entertainment. Their characteristics are mostly the independence and lifecycle motivation. For cryptocurrency investors, the motivation is mostly obstructed by lack of income and market information. Most of them are open for innovation and bear it inevitable. The most of them considered as innovator or late majority. They are rarely known as laggards.
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Gilbert, Scott, and Hio Loi. "Digital Currency Risk." International Journal of Economics and Finance 10, no. 2 (January 10, 2018): 108. http://dx.doi.org/10.5539/ijef.v10n2p108.

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Digital currencies, such as Bitcoin, have emerged as an alternative form of money, untethered to traditional money and largely unregulated. As such, digital currency represents a wild frontier for investors who might otherwise be shopping for gold or foreign currencies, with serious risks. The present work considers digital currency from a traditional asset pricing perspective. Setting aside risks of seller fraud or currency theft, we examine fluctuation and systematic risk in the price of Bitcoin. From this perspective, Bitcoin does not appear to carry much systematic risk -- despite its high volatility -- and so is a reasonable candidate for inclusion in investors’ portfolios. Some illustrative examples suggest that the optimal amount of Bitcoin to include in investor portfolios may be tiny or instead substantial - as high as 21 percent of total financial assets.
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Chen, Jianwei, and Igor O. Nesterov. "Central bank digital currencies: Digital Yuan and its role in Chinese digital economy development." RUDN Journal of Economics 31, no. 1 (December 15, 2023): 120–33. http://dx.doi.org/10.22363/2313-2329-2023-31-1-120-133.

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Under the impact of financial technology and digital currency, “central bank digital currency” has become an international hotspot in recent years and is also one of the current research and development priorities of China’s central bank. Preparations for China’s digital RMB began as early as 2014, and in 2017 China’s central bank clearly announced that it would fully issue the digital currency. The launch of the digital RMB is a major reform and innovation in the historical development of China’s currency. China’s issuance of a central bankdigital currency will help enhance the status of the People’s Bank, strengthen the effectiveness of monetary policy, improve macro-prudential management capabilities, and promote cross-border RMB payments, etc. Up to now, China has started pilot tests in some cities, such as Shenzhen, Xian, Chengdu Suzhou. Currently, China’s digital RMB has been tested for the public, with features such as unlimited legal compensation, moderate anonymity, national statutory, dual offline payment, no cost of transaction and centralized management. With the rapid development of scientific information technology and the intensification of international competition, the digitalization of currency has become an irreversible trend. The purpose of this study is to identify the practice of digital Yuan and its role in Chinese digital economy development. The discussion tasks of this paper can be summarized as follows. Clarify the definition of digital Yuan; assess the operational model of digital Yuan; evaluate the operating framework of digital Yuan; identify the features and merits of digital Yuan application. This research adopts case study of China CBDC and literature analysis methods to analyzed the concept, characteristics and design principles of digital RMB. Then it investigates the role of digital RMB for the development of China’s digital economy, which will provide an important basis for understanding and advancing the domestic research on the central bank’s digital currency. For example, digital Yuan plays a key role in facilitating data productivity, driving digitalization of public payment scenarios and opening a healthy digital economy system.
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Sintsova, E. A., and E. A. Vitsko. "Current Development Trends in the Digital Currency Market." Economics and Management 27, no. 7 (September 1, 2021): 504–11. http://dx.doi.org/10.35854/1998-1627-2021-7-504-511.

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Aim. The presented study aims to analyze the development of the digital currency market, investigate trends for expanding the use of its tools, identify the peculiarities of the current stage of digital currency use, and consider the mechanism of introducing central bank digital currencies (CBDCs).Tasks. The authors specify the role and content of the digital currency market and its tools in the modern Russian economy; examine the formation and development of the cryptocurrency market from the perspective of introducing the “digital ruble”; identify regulatory prerequisites that hinder the development of the digital currency market; describe current trends and the mechanism of organizing the introduction of CBDCs.Methods. This article reflects a comprehensive approach to assessing the effectiveness of the use of digital currency market tools based on the use of economic-statistical and general scientific dialectical methods as well as the laws and principles of formal logic. The conducted studies and recommendations are based on statistics provided by CoinMarketCap. In particular, the methodological basis includes econometric modeling tools used to assess the cryptocurrency market in order to identify its characteristic traits and features.Results. Under modern conditions, the digital currency market is considered to be one of the main transformational elements of the digital economy. The authors focus on the prerequisites for the development and implementation of the domestic digital currency as an instrument of the national monetary policy and for ensuring the financial stability of the economy as a whole. This hypothesis is confirmed by the analysis and study of the global economic situation in the international digital currency market as well as the peculiarities of the functioning of its key components.Conclusions. In the modern context, it is important to have a theoretical and practical understanding of the conditions for the functioning of the digital currency market in the national economy and to find a comprehensive solution to issues associated with expanding the use of its tools for the development of the payment system and the formation of a favorable competitive environment.
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Zaynutdinova, Elizaveta. "Digital Rights and Digital Currency in Russian Law: The Issues of Legal Nature and Relations." Legal Concept, no. 4 (December 2022): 159–67. http://dx.doi.org/10.15688/lc.jvolsu.2022.4.22.

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Introduction: currently, all countries are facing the challenges of the legal regulation of new digital phenomena that receive various names – digital rights, tokens, digital assets, digital currency, cryptocurrency. The Russian legislator has chosen the concepts of digital rights and digital currency as fundamental in this area. Questions arise about the correlation of such objects of rights, the selection of their qualifying features and the definition of the features of their legal regimes in the Russian Federation. The purpose of the study is to identify significant qualifying features of digital rights and digital currency, allowing them to be distinguished from each other in the Russian legal field. In this regard, the following research tasks are solved: 1) the definition of the essence of digital rights and digital currency in Russian law and similar legal phenomena; 2) the identification of qualifying features of digital rights and digital currency in the legislation, doctrine and law enforcement practice; 3) the comparative legal analysis of the legal regimes of digital rights and digital currency; 4) providing recommendations to the legislator and law enforcement officer on a more precise definition of the legal nature of digital rights and digital currency and a more effective legal regulation of their movement in the Russian Federation. Methods: in carrying out the study, the formal legal, historical legal and comparative legal methods were used to formulate the features of the legal regimes of digital rights and digital currency in Russian law. Results: digital rights and digital currency, despite the presence of a single digital (binary) form, have different legal regimes. Digital rights are second-order rights, being binding and other rights in digital form. In the case of digital rights, there is an obligor on whom the creditor has the right to make a corresponding claim. Accordingly, digital rights are relative rights. In turn, the digital currency is limited in circulation, at the same time, it seems more correct to recognize it as a special right of obligation, while the obligor is the user of the information system in which the digital currency is issued and circulated. Such a digital currency should not be confused with a digital currency issued by the Central Bank acting as an obligor. The authors have come to the conclusion that digital rights and digital currency are similar in having a digital form, which determines the civil remedies and liability applied in their movement relations, as well as the use of special contractual structures (smart contract). The differences between digital rights and digital currency lie in the definition of the obligor in the obligation, whose object is a digital right or digital currency.
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Алленых, Марина Анатольевна. "DIGITAL CURRENCY - PRIVATE MONEY?" Вестник Тверского государственного университета. Серия: Экономика и управление, no. 1(53) (March 30, 2021): 21–30. http://dx.doi.org/10.26456/2219-1453/2021.1.021-030.

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Цель работы - рассмотреть, является ли цифровая валюта частными деньгами в контексте австрийской школы, и показать современное направление развития цифровых платформ. Автором рассмотрены основные положения теории частных денег Хайека и проведен историко-сравнительный анализ цифровых валют. Сделан вывод о том, что криптовалюта еще не является частными деньгами по определению австрийской школы. Автором проанализировано, как современные платежные платформы, которые по сути являются «экосистемами», используют цифровые платежные инструменты. Рассмотрены особенности цифровых валют, выпускаемых на основе платформ. Показано, что в «экосистемах» токены также не являются частными деньгами в соответствии с положениями австрийской школы. The purpose of this work is to analyze whether digital currency is private money in the context of the Austrian school and to show the modern direction of development of digital models. The author considers the main provisions of the private money theory and carries out a historical and comparative analysis of digital currencies in this context. It is concluded that cryptocurrency is not yet private money as defined by the Austrian school. The author analyzes how modern payment platforms, which are essentially «ecosystems», use digital payment instruments The features of digital currencies issued on the platform basis are considered. It is shown that in «ecosystems» tokens are also not private money in accordance with the provisions of the Austrian school.
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Kang, Kee-Youn. "Digital currency and privacy." Theoretical Economics 19, no. 1 (2024): 131–67. http://dx.doi.org/10.3982/te5081.

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We develop a monetary model in which a private company issues digital currency and uses payment data to estimate consumers' preferences. Sellers purchase preference information to produce goods that better match consumers' preferences. A monopoly arises in the digital currency industry, and digital currency is not issued if the inflation rate is sufficiently high. Due to reinforcing interactions between the value of preference information and trade volume, multiple equilibria (with and without digital currency) can exist, depending on market structures for monetary exchanges. When left to market forces alone, socially efficient uses of payment data may not occur.
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Yan, Chen, and Tianzhi Yao. "World Digital CurrencyandTobacco Regulatory Science New Paradigm." Tobacco Regulatory Science 7, no. 6 (November 3, 2021): 5395–99. http://dx.doi.org/10.18001/trs.7.6.30.

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Objectives: Based on the times analysis, we proposethe world digital currency, proposesthe world digital currency tentative plan. The so-called world digital currency is may distribute one kind of world digital currency, or as its initial digital nationality currency, as well as its initial other form like company or personal digital currency. Then has analyzed the digital currency competition, pointed out the digital currency the competition, is take the national digital currency strategy competition as the foundation, must formulate the good national digital currency strategy, at last we put forward thenew tobacco regulatory science paradigm.
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Dissertations / Theses on the topic "Digital currency"

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Loi, Hio. "ESSAYS ON DIGITAL CURRENCY." OpenSIUC, 2016. https://opensiuc.lib.siu.edu/dissertations/1179.

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The first chapter examines whether Bitcoin, the most popular cryptocurrency, is a good investment vehicle for diversifying an investment portfolio by testing its systematic risk. The chapter also estimates the optimal proportion of Bitcoin that should be included in an investment portfolio. The observation period in this chapter is between 7/20/2010 and 6/30/2014, and a wide range of regions are examined around the world. The Capital Asset Pricing Model and the Fama-French Three Factor Model are used to examine the systematic risk of Bitcoin, and the optimal proportion of Bitcoin in an investment portfolio is estimated by the mean-variance portfolio analyses. The results show that Bitcoin is a non-systematic risk asset around the world markets so that Bitcoin can be used to diversify the risk in an investment portfolio. Besides, The mean-variance portfolio analyses suggest that the optimal proportion of Bitcoin in an investment portfolio is between 4.4\% and 21.5\%. In the second chapter, the Autoregressive Distributed Lag cointegration with bounds test approach and the unrestricted vector autoregressive model with Granger causality tests are applied to identify the determinants of Bitcoin price movement. The time series daily data from 8/17/2010 to 1/8/2016 is used in this chapter. The control variables include the supply and demand fundamentals of Bitcoin, macro economic indicators, and investor's attractiveness of Bitcoin. The results confirm the existence of Bitcoin price equilibrium in the long run. In the short run, the price of Bitcoin is affected by its supply and demand fundamentals such as Bitcoin US exchange trade volume and the number of transaction in Bitcoin. In addition, the findings suggest that the causality between Bitcoin price and its supply and demand fundamentals are bi-directional. The third chapter studies the liquidity of Bitcoin using the time series daily data over the period 1/1/2014 to 12/31/2015. Based on the available data for Bitcoin, five liquidity measures are chosen to evaluate the liquidities of five Bitcoin exchange companies and different size of stocks. The results suggest that the liquidity of Bitcoin is sensitive to the choice of the Bitcoin exchange company. The Bitcoin exchange company called Bitfinex provides the highest liquidity for Bitcoin trading. Moreover, the results indicate that stocks are more liquid than Bitcoin no matter the market capitalization sizes of stocks.
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Teichmann, Fabian, and Marie-Christin Falker. "Will Digital Currencies Replace Cash?: Digital, Currency, Privacy and Surveillance." Universität Leipzig, 2020. https://ul.qucosa.de/id/qucosa%3A70813.

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In some nations, including Sweden and South Korea, cash payments are becoming increasingly uncommon. Other nations, such as Germany, continue to predominantly prefer cash. At the same time, digital currency is on the rise, and the announced launch of Facebook’s stablecoin Libra, in particular, has caused a debate around digital money. In response, a number of central banks have begun to consider launching their own versions of digital currency. This article analyzes characteristics of both cash and digital currency and illustrates advantages as well as disadvantages of digital money and a cashless society. In particular, privacy concerns regarding digital cash are addressed. In addition, compliance risks are highlighted, and it is deliberated whether the introduction of digital cash could lead to a decrease in crime related to cash and cryptocurrencies.
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Allan, Matthew J. "Digital Currency in the Digital Age: Portfolio Diversification Using Bitcoin and Litecoin." Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/831.

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This paper will show the effect of cryptocurrencies, specifically Bitcoin and Litecoin, on a diversified portfolio of traditional and alternative assets. By using weekly closing price of these data, I use a single-index model to find betas, Sharpe ratios, and asset correlations. Then using the Markowitz Portfolio Optimization model to find optimal weights both with and without percentage restrictions. To date there is little academic research into cryptocurrency portfolio management. This paper expands upon a similar study done in the summer of 20131 through the Université Libre de Bruxelles. However, their data was from before a major spike in Bitcoin demand in November that same year, and did not include Litecoin. This paper fills the gap.
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McCoy, Mason Eugene. "A Twitter-Based Prediction Tool for Digital Currency." OpenSIUC, 2018. https://opensiuc.lib.siu.edu/theses/2302.

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Digital currencies (cryptocurrencies) are rapidly becoming commonplace in the global market. Trading is performed similarly to the stock market or commodities, but stock market prediction algorithms are not necessarily well-suited for predicting digital currency prices. In this work, we analyzed tweets with both an existing sentiment analysis package and a manually tailored "objective analysis," resulting in one impact value for each analysis per 15-minute period. We then used evolutionary techniques to select the most appropriate training method and the best subset of the generated features to include, as well as other parameters. This resulted in implementation of predictors which yielded much more profit in four-week simulations than simply holding a digital currency for the same time period--the results ranged from 28% to 122% profit. Unlike stock exchanges, which shut down for several hours or days at a time, digital currency prediction and trading seems to be of a more consistent and predictable nature.
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Shi, Ye, and Shucheng Zhou. "Central Bank Digital Currencies: Towards a Chinese Approach : Design Choices of Digital Currency Electronic Payment." Thesis, Internationella Handelshögskolan, Jönköping University, IHH, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-48662.

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Inspired by the digital revolution to the financial industry, the discussion around central bank digital currency also attract attention from academics and central banks. The People’s Bank of China (PBOC) is also researching on China’s CBDC: digital currency electronic payment (DCEP) and announced that DCEP would be issued as soon as possible.  However, the PBOC does not systematically disclose the information of DCEP. The characteristics and mechanism design are still obscured and need to be explored deeply. This thesis analysed the classification and mechanism design choices of DCEP from the perspective of two different demands: general demand and central bank demand. Based on pragmatism philosophy, we use a mixed-methods approach that is a combination of qualitative and quantitative research. Through the interview and surveys, we identified the demands from the PBOC and the general public in China and the characteristics of DCEP from official claims. Then generate the design choices via the money flower and the pyramid of CBDC models and compare the result with the demand. The analysis shows that the DCEP belongs to type B general-purpose CB digital tokens, and it would adopt a complex multi-layer hybrid architecture design, with the support from both DLT and conventional way. In conclusion, the current mechanism design choices can meet the demands from each side to a certain extent and reached a delicate balance under the trade-off between privacy and security issues. This thesis provides an insightful view on the classification and design choices of DCEP, fulfils the lack of systematic research relating to the demand and design choices of DCEP, and reveals the public’s insufficient knowledge in DCEP.
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Almeida, Lucas Minelli de. "Central Bank Digital Currency: um olhar sobre o design e formas de implementação." Master's thesis, Instituto Superior de Economia e Gestão, 2021. http://hdl.handle.net/10400.5/23427.

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Mestrado Bolonha em Economia Internacional e Estudos Europeus
O estado atual do mundo criou a tempestade perfeita para a abordagem deste tema. Partindo da rápida digitalização que atravessamos, acelerada pela explosão da crise pandémica recente e, paralelamente, o aumento da popularidade das criptomoedas privadas, que puseram em causa os Bancos Centrais e a respetiva autoridade monetária, abriu-se espaço à exploração das Central Bank Digital Currency. Nesse sentido, tem-se assistido a um aumento exponencial do interesse por parte dos Bancos Centrais neste tópico. A importância de perceber como esta se pode complementar ou, eventualmente, substituir o dinheiro físico como o conhecemos e entender que tipo de impacto pode ter no quotidiano do cidadão comum é crucial. As possibilidades de design são inúmeras, sendo que cada uma delas traz consigo uma abordagem e trade-offs diferentes. São questões que podem tocar em pontos como a segurança dos nossos dados pessoais até à facilidade de comprar algo digitalmente com moeda estrangeira. Estas serão decisões que serão sempre modeladas pelas caraterísticas e circunstâncias de uma certa jurisdição, apesar de toda a complexidade técnica e operacional associada.
The current state of the world has created the perfect storm to address this issue. Based on the rapid digitization that we are going through, accelerated by the explosion of the recent pandemic crisis and, at the same time, the increase in the popularity of private cryptocurrencies, which called into question the Central Banks and the respective monetary authority, space was opened for the exploitation of the Central Bank Digital Currency. In this sense, there has been an exponential increase in interest on the part of Central Banks on this topic. The importance of understanding how it can complement or eventually replace physical money as we know it and understanding what kind of impact it can have on the everyday lives of ordinary people is crucial. The design possibilities are endless, each with a different approach and trade-offs. These are issues that can touch on points such as the security of our personal data to the ease of buying something digitally with foreign currency. These will be decisions that will always be shaped by the characteristics and circumstances of a given jurisdiction, despite all the associated technical and operational complexity.
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Agarwal, Nipun. "Digital Money: Political Economy of Cryptocurrencies." Thesis, The University of Sydney, 2021. https://hdl.handle.net/2123/25383.

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Since the advent of Bitcoin in 2009, cryptocurrencies have become prominent in financial markets. Their introduction relates to development of a currency that is free from government control. The creation of cryptocurrencies seems to be related to Fredrick August von Hayek’s concepts of denationalisation of money. But, it is not clear that there is a direct linkage with Hayek’s concepts. Hayek (1944, 1945, 1982) has stated that free markets are preferred to the government monopoly on issuing money as it provides for free transfer of information and competitive pricing of money. However, Rothbard (1982) states that managing money provides governments a strong grip on the economic activities of a country. As a result, it is hard for the government to give that power away as it intertwines its political and fiscal responsibilities. Central banks are now developing digital currencies in order to restrict the use of cryptocurrencies. Therefore, this thesis asks the question: Can Central Bank Digital Currency and Private Cryptocurrency Co-exist? As per Mises’ (1998) Regression Theorem, a currency needs to be backed by a commodity in order to keep a stable value and private cryptocurrencies cannot be a valid currency. It is unlikely that cryptocurrencies will replace fiat currencies or central bank digital currencies within local jurisdictions. At present, cryptocurrencies like Bitcoin act more as assets than currencies and an increase in demand has led to significant price volatility. However, these cryptocurrencies can exist for cross border transactions, developing a two-tiered system. Additionally, new cryptocurrencies can be developed that could support the existence of private cryptocurrencies within local jurisdiction that can compete with central bank digital currencies. Finally, this thesis provides forms in which this co-existence can occur.
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Stark, Frida, and Sandra Medenica. "E-valutor, framtidens nya betalmedel? : En empirisk och komparativ analys av Bitcoins påverkan av intresset för införandet av en nationell e-krona i Sverige samt effekterna på samhället av en sådan valuta." Thesis, Linköpings universitet, Nationalekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-176818.

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Författare: Sandra Medenica & Frida Stark Handledare: Joakim Persson Bakgrund: Kontantanvändningen i Sverige idag har minskat i takt med den digitala utvecklingen vilket har skapat plats för nya betalningsmöjligheter, exempelvis kryptovalutor och e-valutor. Samtidigt håller Riksbanken på att utreda möjligheten för en e-krona som skulle medföra att Riksbanken kan reglera penningpolitiken på ett mer effektivt sätt samt bibehålla sin monopolställning som ensam utgivare av pengar på betalningsmarknaden.  Syfte: Syftet med uppsatsen är att undersöka vilka effekter en e-krona skulle ha på samhället samt om det finns ett samband mellan priset på Bitcoin och länders intresse för att införa en CBDC.  Metod: Uppsatsen grundar sig på litteraturstudier och ekonomiska teorier för att analysera ekonomiska effekter av en e-krona i Sverige. Utöver det genomförs en regressionsanalys för att härleda ett eventuellt potentiellt samband med data som visar Bitcoinkursen och länders intresse för ett införande av Central Bank Digital Currency, CBDC.  Slutsats: En e-krona skulle medföra att Riksbanken lättare kan genomföra penningpolitiska åtgärder för att stimulera ekonomin samt att de skulle fortsätta bidra med konkurrens på betalningsmarknaden. Affärsbankerna skulle eventuellt kunna påverkas av en undanträngningseffekt i form av att bankinlåningarna minskar vilket leder till att de skulle förlora en del av sin ställning på betalningsmarknaden. Utöver det skulle de kriminella verksamheterna kunna minska när kontanterna fasas ut då de anonyma betalningsmöjligheterna blir färre.  Det finns ett positivt uppskattat samband mellan Bitcoinkursen och länders intresse för ett införande av en CBDC med en korrelation på 0,52. Det innebär att när Bitcoinkursen stiger kommer även länders intresse för en CBDC öka. Detta kan vara en förklaring till ländernas intresse, men fler variabler bör tas i beaktning vid vidare analys.
Authors: Sandra Medenica & Frida Stark Supervisor: Joakim Persson Background: Today´s use of cash in Sweden has decreased along with the digital development, which has created space for new payment options, such as cryptocurrencies and e-currencies. Along with this development, the central bank of Sweden is investigating the possibility of an e-krona, which would allow the central bank of Sweden to regulate the monetary policy in a more efficient way and maintain its monopoly position as the sole issuer of money in the payment market. Purpose: The aim of this essay is to investigate what effects an e-krona would have on society and whether there is a correlation between the price of Bitcoin and countries' interest in introducing a CBDC. Completion: The essay is based on literature studies and economic theories to analyze the economic effects of an e-krona in Sweden. In addition, a regression analysis is performed to deduce a possible correlation with the data showing the Bitcoin exchange rate and countries' interest in the introduction of Central Bank Digital Currency, CBDC. Conclusions: An e-krona would mean that the Riksbank could more easily implement monetary policy measures to stimulate the economy and that they would continue to contribute to competition in the payment market. The commercial banks could possibly be affected by a crowding-out effect in the form of reduced bank deposits, which leads to them losing part of their position in the payment market. In addition, the criminal activities could decrease when the cash is phased out as the anonymous payment options become fewer. There is a positive estimated effect of the bitcoin exchange rate on countries interest of a CBDC with a correlation of 0,52. In other words, when the bitcoin exchange rate rises there is an increase in the countries interest of a CBDC. This might be an explanation for the interest, however, more variables should be considered in the analysis.
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Perugini, Maria Letizia <1973&gt. "Distributed Ledger Technologies e sistemi di Blockchain: Digital Currency, Smart Contract e altre applicazioni." Doctoral thesis, Alma Mater Studiorum - Università di Bologna, 2017. http://amsdottorato.unibo.it/8257/1/ml%20perugini%20-%20tesi%20di%20dottorato.pdf.

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Questo studio si propone di analizzare il complesso delle novità introdotte al sistema dei pagamenti e al trasferimento di diritti da Distributed Ledger e Blockchain, in una prospettiva che tenga conto delle applicazioni di mercato di queste innovazioni tecnologiche e della tutela giuridica degli interessi economici e delle posizioni soggettive che ne derivano. In particolar modo, l’opera vuole stimolare la discussione volta alla definizione di un quadro normativo socialmente adeguato che sostenga l’efficienza di questi strumenti in un’ottica di scambio economico globalizzato.
This essay aims at analyzing the ensemble of innovation introduced by Distributed Ledger and Blockchain to the payment system and the transfer of rights, in a perspective considering the market applications of these new technologies and the legal protection of deriving economics interests and individual rights. Purposely, our dissertation aspires to encourage the discussion for the definition of a socially adequate legal framework sustaining the efficiency of these instruments in a global exchange perspective.
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Škoda, Dominik. "Bitcoin jako forma digitálních peněz." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-198623.

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This thesis aims to completely map the problem of new forms of money, called cryptocurrency. It explains the economic principles of functioning these decentralized currencies, particularly emitting (the mining), amount of fees and functioning of the payment system. The work is focused on the currency Bitcoin, for which it describes in detail its origin and development, possibility of simultaneous use (in many examples) as well as possible future scenarios of these currencies. In conclusion, the work describes role of Bitcoin in the current banking system and risks of the Bitcoin.
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Books on the topic "Digital currency"

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McGlynn, Daniel. Digital Currency. 2455 Teller Road, Thousand Oaks California 91320 United States: CQ Press, 2014. http://dx.doi.org/10.4135/cqresrre20140926.

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Mullan, P. Carl. The Digital Currency Challenge. New York: Palgrave Macmillan US, 2014. http://dx.doi.org/10.1057/9781137382559.

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Kriese, Leo. Central Bank Digital Currency. Cham: Springer Nature Switzerland, 2023. http://dx.doi.org/10.1007/978-3-031-44738-9.

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Alam, Nafis, and Syed Nazim Ali, eds. Fintech, Digital Currency and the Future of Islamic Finance. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-49248-9.

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Mullan, P. Carl. A History of Digital Currency in the United States. New York: Palgrave Macmillan US, 2016. http://dx.doi.org/10.1057/978-1-137-56870-0.

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Rayo, Mariano. El futuro del Quetzal digital: Memoria del evento virtual en el marco de la conmemoración de los 75 años del Banco de Guatemala. Guatemala: ASIES, 2021.

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Amara, Francis. Digital Coin Creation: Digital Currency. Independently Published, 2022.

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Handbook of Digital Currency. Elsevier, 2015. http://dx.doi.org/10.1016/c2014-0-01905-3.

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Yeung, Bernard. Digital Currency Economics and Policy. WORLD SCIENTIFIC, 2020. http://dx.doi.org/10.1142/11922.

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Turrin, Richard. Cashless: China's Digital Currency Revolution. Authority Publishing, 2021.

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Book chapters on the topic "Digital currency"

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Yuming, Lian. "Digital Currency." In Sovereignty Blockchain 2.0, 43–85. Singapore: Springer Nature Singapore, 2022. http://dx.doi.org/10.1007/978-981-19-3862-7_2.

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Zhao, Dawei, Jia Yuan, and Wei Chen. "Digital Currency." In FinTech and SupTech in China, 75–92. Singapore: Springer Nature Singapore, 2023. http://dx.doi.org/10.1007/978-981-99-5173-4_4.

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Billah, Mohd Ma’Sum. "Digital Currency Takaful." In Islamic Insurance Products, 237–43. Cham: Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-17681-5_19.

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Mullan, P. Carl. "Digital Gold Currency." In The Digital Currency Challenge, 16–19. New York: Palgrave Macmillan US, 2014. http://dx.doi.org/10.1057/9781137382559_4.

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Mullan, P. Carl. "Digital Currency Growth." In The Digital Currency Challenge, 30–35. New York: Palgrave Macmillan US, 2014. http://dx.doi.org/10.1057/9781137382559_6.

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Liu, Zhiyi, and Wenxuan Hou. "Central Bank Digital Currency." In Digital Finance, 83–98. Singapore: Springer Nature Singapore, 2023. http://dx.doi.org/10.1007/978-981-99-7305-7_6.

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Ramalingam, Vidyashankar. "Central bank digital currency." In Blockchain for Industry 4.0, 215–28. Boca Raton: CRC Press, 2022. http://dx.doi.org/10.1201/9781003282914-11.

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Wang, Paul S. "Central Bank Digital Currency." In Becoming a Computational Thinker, 155–62. Boca Raton: Chapman and Hall/CRC, 2023. http://dx.doi.org/10.1201/b23382-16.

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Julian, Anitha, Bangale Sampath Kumar Rao, Pedavalli Mukesh Chowdary, and Narravula Upendra. "Digital currency price prediction." In Artificial Intelligence, Blockchain, Computing and Security Volume 2, 260–64. London: CRC Press, 2023. http://dx.doi.org/10.1201/9781032684994-40.

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Mullan, P. Carl. "What Is Digital Currency?" In The Digital Currency Challenge, 4–12. New York: Palgrave Macmillan US, 2014. http://dx.doi.org/10.1057/9781137382559_2.

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Conference papers on the topic "Digital currency"

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Shoaib, M., M. Ilyas, and M. Sikandar Hayat Khiyal. "Official digital currency." In 2013 Eighth International Conference on Digital Information Management (ICDIM). IEEE, 2013. http://dx.doi.org/10.1109/icdim.2013.6693982.

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Patrick Franklin, Brian, and Chris Wille. "Currency." In ARTECH 2021: 10th International Conference on Digital and Interactive Arts. New York, NY, USA: ACM, 2021. http://dx.doi.org/10.1145/3483529.3483768.

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Zhong, Yinghua. "Review on Digital Currency." In 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022). Paris, France: Atlantis Press, 2022. http://dx.doi.org/10.2991/aebmr.k.220307.095.

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Sun, Mei, Yongchao Sun, Kejin Sun, Xuelian Tang, and Chuanxiao Li. "Analysis of Digital Currency Investment." In ICBCT 2019: 2019 International Conference on Blockchain Technology. New York, NY, USA: ACM, 2019. http://dx.doi.org/10.1145/3320154.3320155.

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Sidorenko, E. L. "Digital Ruble: Digital Currency Model Of Central Banks." In Global Challenges and Prospects of The Modern Economic Development. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.04.02.213.

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Blazek, Henry. "Real-Time Inspection Of Currency." In Applications if Digital Image Processing IX, edited by Andrew G. Tescher. SPIE, 1986. http://dx.doi.org/10.1117/12.976213.

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Hualan, Lu. "Dynamic Analysis of the Impact of Digital Currency on Currency Multipliers." In 2023 International Conference on Data Science & Informatics (ICDSI). IEEE, 2023. http://dx.doi.org/10.1109/icdsi60108.2023.00024.

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Shrivastva, Nikhil, Suman Devi, and Jitendra Kumar Verma. "Digital Money: The Empowering New Currency." In 2020 International Conference on Computational Performance Evaluation (ComPE). IEEE, 2020. http://dx.doi.org/10.1109/compe49325.2020.9200036.

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El Defrawy, Karim, and Joshua Lampkins. "Founding Digital Currency on Secure Computation." In CCS'14: 2014 ACM SIGSAC Conference on Computer and Communications Security. New York, NY, USA: ACM, 2014. http://dx.doi.org/10.1145/2660267.2660293.

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Savelyeva, Nadezhda, and Tatyana Timkina. "Digital Currency: Prerequisites, Benefits and Risks." In INTERNATIONAL SCIENTIFIC-PRACTICAL CONFERENCE "ENSURING THE STABILITY AND SECURITY OF SOCIO - ECONOMIC SYSTEMS: OVERCOMING THE THREATS OF THE CRISIS SPACE". SCITEPRESS - Science and Technology Publications, 2021. http://dx.doi.org/10.5220/0010693400003169.

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Reports on the topic "Digital currency"

1

Fernández-Villaverde, Jesús, Daniel Sanches, Linda Schilling, and Harald Uhlig. Central Bank Digital Currency: Central Banking For All? Cambridge, MA: National Bureau of Economic Research, February 2020. http://dx.doi.org/10.3386/w26753.

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Mishra, Bineet, and Eswar Prasad. A Simple Model of a Central Bank Digital Currency. Cambridge, MA: National Bureau of Economic Research, April 2023. http://dx.doi.org/10.3386/w31198.

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Bordo, Michael, and Andrew Levin. Central Bank Digital Currency and the Future of Monetary Policy. Cambridge, MA: National Bureau of Economic Research, August 2017. http://dx.doi.org/10.3386/w23711.

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Schilling, Linda, Jesús Fernández-Villaverde, and Harald Uhlig. Central Bank Digital Currency: When Price and Bank Stability Collide. Cambridge, MA: National Bureau of Economic Research, December 2020. http://dx.doi.org/10.3386/w28237.

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Fairweather, Zan, Denzil Fiebig, Adam Gorajek, Rochelle Guttmann, June Ma, and Jack Mulqueeney. Valuing Safety and Privacy in Retail Central Bank Digital Currency. Reserve Bank of Australia, April 2024. http://dx.doi.org/10.47688/rdp2024-02.

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This paper explores the merits of introducing a retail central bank digital currency (CBDC) in Australia, focusing on the extent to which consumers would value having access to a digital form of money that is even safer and potentially more private than commercial bank deposits. To conduct our exploration we run a discrete choice experiment, which is a technique designed specifically for assessing public valuations of goods without markets. The results suggest that the average consumer attaches no value to the added safety of a CBDC. This is consistent with bank deposits in Australia already being perceived as a safe form of money, and physical cash issued by the Reserve Bank of Australia continuing to be available as an alternative option. Privacy settings of a CBDC, which can take various forms, look more consequential for the CBDC value proposition. We find no clear relationship between safety or privacy valuations and the degree of consumers' cash use.
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Andolfatto, David. Assessing the Impact of Central Bank Digital Currency on Private Banks. Federal Reserve Bank of St. Louis, 2018. http://dx.doi.org/10.20955/wp.2018.026.

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Allen, Sarah, Srđjan Čapkun, Ittay Eyal, Giulia Fanti, Bryan Ford, James Grimmelmann, Ari Juels, et al. Design Choices for Central Bank Digital Currency: Policy and Technical Considerations. Cambridge, MA: National Bureau of Economic Research, August 2020. http://dx.doi.org/10.3386/w27634.

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Bordo, Michael. Central Bank Digital Currency in Historical Perspective: Another Crossroad in Monetary History. Cambridge, MA: National Bureau of Economic Research, August 2021. http://dx.doi.org/10.3386/w29171.

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Edwards, Sebastian. Central Bank Digital Currencies and The Emerging Markets: The Currency Substitution Challenge. Cambridge, MA: National Bureau of Economic Research, November 2021. http://dx.doi.org/10.3386/w29489.

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Martínez-Ventura, Constanza, Julián A. Parra-Polania, Tatiana Mora-Arbeláez, and Angélica Lizarazo-Cuéllar. Expected Macroeconomic Effects of Issuing a Retail CBDC. Banco de la República, August 2023. http://dx.doi.org/10.32468/be.1247.

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This document reviews the potential macroeconomic effects of issuing a central bank digital currency (CBDC) for the use of individuals and businesses. A careful selection of the architecture, and the economic and technological design aspects of this digital form of central bank money that best suit the needs of Colombian economy is made to frame the analytical approach used to study these issues. The most salient results of the related literature are reviewed to establish the consequences of undertaking this initiative. For the set of selected assumptions, we find that the expected macroeconomic consequences are negligible.
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