Some Lessons From Asian E Money Schemes For The Adoption Of Central Bank Digital Currency
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Some Lessons from Asian E-Money Schemes for the Adoption of Central Bank Digital Currency
Author | : Tao Sun |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 2023-06-09 |
Genre | : Business & Economics |
ISBN | : |
Download Some Lessons from Asian E-Money Schemes for the Adoption of Central Bank Digital Currency Book in PDF, Epub and Kindle
This paper synthesizes four lessons from the experiences of six Asian e-money schemes for central banks as they consider adopting central bank digital currency (CBDC): (i) CBDC should embody four attributes: trust, convenience, efficiency, and security; (ii) CBDC service providers can facilitate CBDC adoption through four channels: leveraging digital technology, targeting use cases, developing business models, and complying with legal and regulatory requirements; (iii) central banks could incentivize CBDC service providers to develop these four channels when considering CBDC adoption; and (iv) central banks may be able to establish data-sharing arrangements that preserve privacy while leaving room for CBDC service providers to explore the economic value of data.
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