Digital Currencies in Economies - Critical Analysis on the Future Role

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F21%3A00134979" target="_blank" >RIV/00216224:14560/21:00134979 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Digital Currencies in Economies - Critical Analysis on the Future Role

Original language description

Current crises such as the global Corona crisis (Sars-COV-19) can mean that citizens are increasingly looking for secure forms of investment to cope with crises as well as digital payment options to avoid contact with pathogens for payment transactions. One possibility for this can be digital currencies. The origin of digital money lies in the digital, decentralized Bitcoin, which was initially issued in 2008. In addition to Bitcoin, there are over 5,600 other cryptocurrencies as of June 2021. However, the term digital currency is not synonymous with the term cryptocurrency. In addition to cryptocurrencies, stablecoins belong to the group of digital currencies. The digital currencies of the central banks are called Central Bank Digital Currencies or CBDCs. The objective of the given paper is to address the current discussion about the possibility of digital currencies to substitute cash as well as fiat money. In doing so, quantitative analyses are used to assess the Bitcoin, Facebook’s Diem and the Swedish EKrona in a critical manner. The paper states that digital currencies will be likely to play an important role in the future of finance. But the role Bitcoin, Diem and e-krona will play in the future depends on their advantages and disadvantages as well as the regulatory conditions and acceptance. The analysis shows that Bitcoin can be used for speculative investment purposes. The Diem and the CBDC e-krona, on the other hand, have the potential to become recognized means of payment in the future.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings of The 5th International Conference on Research in Management and Economics

ISBN

9786094852343

ISSN

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e-ISSN

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Number of pages

15

Pages from-to

21-35

Publisher name

Diamond Scientific Publishing

Place of publication

Vilnius

Event location

Berlin

Event date

Dec 18, 2021

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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