Armelius, Hanna Claussen, Carl Andreas Hull, Isaiah
Year of Publication:
Sveriges Riksbank Staff memo
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.