title: Central bank digital currencies: An innovative tool for enhancing domestic and cross-border payments and settlements
metadata.name: dc.contributor.author
metadata.value: Nesterov, Igor O.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-03-30T12:37:14Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-03-30T12:37:14Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Nesterov, I. O. (2023) ‘Central bank digital currencies: An innovative tool for enhancing domestic and cross-border payments and settlements’, St Petersburg University Journal of Economic Studies, 39 (1), pp. 33–54. https://doi.org/10.21638/spbu05.2023.102 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2023.102
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/39443
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: “Central Bank Digital Currencies (CBDCs)” is a relatively new but very fast developing story.
  The rush of central banks all over the world toward CBDCs proof-of-concept studying and
  piloting in recent years, as well as somewhere already the practical implementation of their
  own digital currencies have been motivated by a number of factors that are analyzed in this
  study. The potential gains of CBDC domestic issue and application can be distinctly outlined
  today. But, the leading central banks, following to the basic principle “do no harm!”, are acting
  as carefully and slowly as possible in order to avoid the negative consequences of an abrupt
  shifts in the contemporary financial landscape. However, successful progress of the People’s
  Bank of China in piloting the digital yuan, as well as the launch of CBDCs in the Bahamas,
  Nigeria, Jamaica and the countries of the Organization of Eastern Caribbean States, not only
  stimulate other states to intensify their own research developments for CBDC, but also raise
  the question of future implementation of CBDCs for international settlements. The study’s
  key hypothesis, put forward by the author, is that the inevitable approaching issue of central
  bank digital currencies will create unique opportunities to enhance significantly the quality
  of settlement and payment systems not only domestically, but, and especially, internationally.
  CBDCs’ implementation for cross-border transactions will help to overcome the long-known
  but still unresolved hurdles of the existing archaic infrastructure of international settlements:
  low speed, high costs, limited access and insufficient transparency.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 39; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: central bank digital currency
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: CBDC
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: national payment system
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: cross-border payments
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Central bank digital currencies: An innovative tool for enhancing domestic and cross-border payments and settlements
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 02.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/39443/1/02.pdf
resources.format: Adobe PDF
resources.size: 732,23 kB