Study on central bank digital currency
Photo by Adriana Iacob/Shutterstock.com
The National Bank of Hungary (MNB) published a comprehensive study on central bank digital currency as a first step in researching the area.
The volume, entitled "At the Dawn of a New Age: Money in the 21st century," summarizes theoretical considerations, practical issues, and motives behind the potential creation of central bank digital currencies.
It also addresses the impact of such currencies on monetary policy, financial stability, and cash flow, as well as the matter of infrastructural implementation.
"The 'digital competitors' [...] entering the market of financial services may produce the 'digital rivals' to national currencies through the digital means of payment they offer, which can fundamentally transform the monetary system as we know it today. Central banks also need to respond to this challenge," MNB governor György Matolcsy said in the forward to the volume.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.