A Perspective on Electronic Alternatives to Traditional Currencies
Sveriges Riksbank Economic Review 2017:1, 126-148
23 Pages Posted: 23 Jan 2017
Date Written: January 20, 2017
The institution of money is rapidly evolving thanks to developments in computer-based cryptography. Technological advances have made possible the creation of cost-effective electronic alternatives to banknotes and coins, which are the traditional physical currencies. This document aims to describe — based on scientific literature — the use and characteristics of money, some of the problems associated with issuing a new currency or a new payment instrument, and the possible comparative advantages of a central bank in leading the way relative to private issuers.
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