Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/231485
Authors: 
Armelius, Hanna
Claussen, Carl Andreas
Hull, Isaiah
Year of Publication: 
2021
Series/Report no.: 
Sveriges Riksbank Staff memo
Abstract: 
We explain why all CBDCs will need a ledger that keeps track of CBDC ownership regardless of whether they are “token-based”, “DLT-based” or “on a blockchain”; and regardless of how we define these terms. Consequently, token-based CBDCs appear not to have a greater capacity for providing payments that are peer-to-peer, offline or anonymous like cash than “account-based” CBDCs.
Subjects: 
CBDC
Tokens
Offline
JEL: 
E42
E51
Document Type: 
Working Paper

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