Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212990 
Year of Publication: 
2017
Series/Report no.: 
BoF Economics Review No. 5/2017
Publisher: 
Bank of Finland, Helsinki
Abstract: 
Central banks have traditionally issued cash to the general public. With digitalisation, banknotes are becoming a technically outdated payment instrument, and some central banks have explored the possibility of central bank-issued electronic money applicable to retail payments. Electronic central bank money would offer the public the possibility to hold central bank money in a potentially cashless future. In its present form, blockchain technology would probably not be a suitable solution, since it is unable to process a sufficiently large number of transactions. Electronic central bank money would potentially have significant implications for other areas of central bank policy, which should be meticulously analysed.
Subjects: 
money
central banks
JEL: 
G21
E58
E42
Persistent Identifier of the first edition: 
Additional Information: 
This article was originally published in Finnish under the title ”Digitaalinen keskuspankkiraha”, BoF Economics Review 4/2017: http://urn.fi/URN:NBN:fi:bof-201711031665
Document Type: 
Research Report

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