Comparing Means of Payment: What Role for a Central Bank Digital Currency?

Posted: 16 Sep 2020

See all articles by Paul Wong

Paul Wong

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures

Jesse Maniff

Federal Reserve Bank of Kansas City

Date Written: August 13, 2020

Abstract

This paper looks at the potential benefit that a central bank digital currency (CBDC) could provide in the context of existing payment mechanisms. Central banks today provide the primary payment mechanisms for trade and commerce: cash, used by the public, and electronic payment services, used by eligible financial institutions.

Suggested Citation

Wong, Paul and Maniff, Jesse, Comparing Means of Payment: What Role for a Central Bank Digital Currency? (August 13, 2020). FEDS Notes 2020-08-13-2 https://doi.org/10.17016/2380-7172.2739, Available at SSRN: https://ssrn.com/abstract=3694106

Paul Wong (Contact Author)

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Jesse Maniff

Federal Reserve Bank of Kansas City ( email )

1 Memorial Dr.
Kansas City, MO 64198
United States

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