The future of money : an analysis of the options for central banks in the digital era

Detalhes bibliográficos
Autor(a) principal: Duindam, Kevin Emil
Data de Publicação: 2023
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/28012
Resumo: Mestrado Bolonha em Management
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spelling The future of money : an analysis of the options for central banks in the digital eraSDG GoalsCBDCsCurrencyCentral BanksPayment SystemsMoneyMestrado Bolonha em ManagementThe research in this thesis focuses on the current outlook for the future of money, what options are available and how these can be evaluated. Regarding the current options for central banks, the research revealed that two relatively similar options are to choose from; a Central Bank Issued Digital Currency (CBDC), essentially a digital version of cash, and a modern, robust Instant Payment System (IPS), for most countries upgrading our payments infrastructure. Both come with different advantages, while CBDCs provide more potential stability as it allows ongoing access to central bank money, an IPS proves successful in its ability to utilise existing infrastructure, showing relatively high levels of acceptance in countries around the world. Significant challenges found during the research for CBDC or IPS issuance were that trust in government (or a similar issuing entity) must be high while simultaneously there being no existing and therefore competing robust instant payment system within the jurisdiction. These two challenges would lead to a lack of incentive to adopt a new system of payments for the average user and have other negative network effects. Furthermore, the research has shown that clarification if an IPS will indirectly be capable of providing the necessary stability to ensure the coherence of a domestic system, especially if cash is no longer used and there is no alternative access to central bank money. However, experts agreed that this scenario has never happened before to a large functioning economy in the modern area and is difficult to predict, with Sweden likely being the first to experience this effect first-hand. Finally, the research has shown that acceptance of any newly issued CBDC or IPS will only reach sustainable levels if the interface is easy to use by all, fulfils user needs, and the onboarding has been marketed well with all key stakeholders and retailers on board. This thesis proves to serve as guidance, with limitations and should contribute to the ongoing research about the future of money.Instituto Superior de Economia e GestãoSousa, Rita Martins deRepositório da Universidade de LisboaDuindam, Kevin Emil2024-01-17T01:30:30Z2023-032023-03-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.5/28012engDuindam, Kevin Emil (2023). “The future of money : an analysis of the options for central banks in the digital era”. Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestãoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-21T01:34:26Zoai:www.repository.utl.pt:10400.5/28012Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T19:54:26.714451Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The future of money : an analysis of the options for central banks in the digital era
title The future of money : an analysis of the options for central banks in the digital era
spellingShingle The future of money : an analysis of the options for central banks in the digital era
Duindam, Kevin Emil
SDG Goals
CBDCs
Currency
Central Banks
Payment Systems
Money
title_short The future of money : an analysis of the options for central banks in the digital era
title_full The future of money : an analysis of the options for central banks in the digital era
title_fullStr The future of money : an analysis of the options for central banks in the digital era
title_full_unstemmed The future of money : an analysis of the options for central banks in the digital era
title_sort The future of money : an analysis of the options for central banks in the digital era
author Duindam, Kevin Emil
author_facet Duindam, Kevin Emil
author_role author
dc.contributor.none.fl_str_mv Sousa, Rita Martins de
Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Duindam, Kevin Emil
dc.subject.por.fl_str_mv SDG Goals
CBDCs
Currency
Central Banks
Payment Systems
Money
topic SDG Goals
CBDCs
Currency
Central Banks
Payment Systems
Money
description Mestrado Bolonha em Management
publishDate 2023
dc.date.none.fl_str_mv 2023-03
2023-03-01T00:00:00Z
2024-01-17T01:30:30Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/28012
url http://hdl.handle.net/10400.5/28012
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Duindam, Kevin Emil (2023). “The future of money : an analysis of the options for central banks in the digital era”. Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestão
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Instituto Superior de Economia e Gestão
publisher.none.fl_str_mv Instituto Superior de Economia e Gestão
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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