Central Bank digital currencies: features, options, pros and cons
Santiago Fernández de Lis, Olga Gouveia · RePEc: Research Papers in Economics · 2019
The emergence of cryptocurrencies is opening the way to Central Bank Digital Currencies (CBDCs). This paper highlights the pros and cons of issuing CBDCs under four different variants: from the more modest proposals where risk and reward are both relatively small, to the most ambitious ones where the ambitious aspiration of ending banking crises.