Central Bank Digital Currency

Central Bank Digital Currency

Registration ID: IJNRD_213341

Published ID: IJNRD2402039

DOI: Click Here to Get

SATHISH KUMAR N , Nivedhita B

Digital currency, Fiat currency, Financial stability.

The goal of competing against and replacing central bank fiat money and the banking system, digital currency developed by the private sector, like bitcoin, is intended to have a fixed supply and enable payments. Banks are innovating in response to central banks creating fiat central bank digital currency (CBDC). In order to prevent the disintermediation of banks, encourage optimal firm investment and risk sharing for consumers, and stop digital currency runs into CBDC, this paper demonstrates that central bank monetary policy interest rates paid on bank reserves must be set dynamically and relative to interest rates (even if zero rates) paid on CBDC. In nations with rapid inflation, private digital currency might be preferred to fiat money, although doing so decreases investment and risk sharing. In order to boost investment and risk-sharing and prevent fiat inflation, banks can remerge by accepting deposits and making loans in private digital currency. However, these banks run the risk of experiencing runs into the private digital currency. For investment, risk-sharing, and financial stability, private digital currency is better to conventional hard currencies, such as those based on a gold standard.

Published Paper   E-Certificate

"Central Bank Digital Currency", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.9, Issue 2, page no.a363-a373, February-2024, Available :https://ijnrd.org/papers/IJNRD2402039.pdf

Volume 9 Issue 2, February-2024

Pages : a363-a373

Paper Reg. ID: IJNRD_213341

Published Paper Id: IJNRD2402039

Downloads: 000121174

Research Area: Management

Country: chennai, Tamil Nadu, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2402039.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2402039

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

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