Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Central Bank Digital Currencies: Concept, Benefit, Impact, and Challenges

Central Bank Digital Currencies: Concept, Benefit, Impact, and Challenges
View Sample PDF
Author(s): Pooja Lekhi (University Canada West, Canada)
Copyright: 2024
Pages: 8
Source title: Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges
Source Author(s)/Editor(s): Guneet Kaur (University of Stirling, UK), Pooja Lekhi (University Canada West, Canada)and Simriti Popli (Kaplan International College, UK)
DOI: 10.4018/979-8-3693-1882-9.ch002


View Central Bank Digital Currencies: Concept, Benefit, Impact, and Challenges on the publisher's website for pricing and purchasing information.


Central bank digital currencies (CBDCs) represent a transformative development in the realm of digital finance, offering a government-backed digital alternative to traditional fiat currencies. This chapter delves into the concept, benefits, impacts, and challenges associated with CBDCs. Positioned as government-backed digital alternatives to traditional fiat currencies, CBDCs address the surge in digital payments and private digital currencies. They offer secure digital payment solutions, ease online and offline transactions, and foster financial inclusion, especially in underbanked regions. While CBDCs promise transformation, concerns arise regarding increased financial surveillance, privacy implications, and the intricate integration into existing payment systems. Furthermore, potential ramifications on the banking sector, such as heightened competition and reduced credit availability, are examined. This study emphasizes the need for a balanced approach, ensuring that implementing CBDCs maximizes benefits while mitigating associated risks.

Related Content

Simriti Popli, Gabriel Wasswa. © 2024. 12 pages.
Pooja Lekhi. © 2024. 8 pages.
Shailey Singh. © 2024. 12 pages.
Shailey Singh. © 2024. 9 pages.
Tanuj Surve, Tuan Nguyen. © 2024. 17 pages.
Pawan Kumar, Sanjay Taneja, Mukul Bhatnagar, Arvinder K. Kaur. © 2024. 17 pages.
Azadeh Eskandarzadeh. © 2024. 15 pages.
Body Bottom