Crypto money - Central Bank Digital Currency (CBDC)
Currently, terms such as crypto money and Central Bank Digital Currency (CBDC) are on everyone’s lips and are likely to remain so. We look at the changes to the monetary system due to CBDC and examine the potential impact of CBDC adoption on commercial banks and monetary policy transmission mechanisms: Will conventional transmission mechanisms be strengthened, weakened or even hollowed out? Will the introduction of CBDC lead to a destabilization of commercial banks or will financial intermediation become more efficient if the settlement of digital, cashless payments is transferred to CBDC?
We are also conducting research on the fundamental economic characteristics of crypto money. We want to understand how a distributed system of mutual, anonymous accounting of other people’s property can lead to consensus among all involved in a trustworthy and secure manner. The intention is to be able to describe and understand crypto money as an economic concept without any technical, mathematical or information technological background. From this, we want to derive how consensus can be created entirely without unsustainable high energy consumption through “Proof of Work” or other existing consensus mechanisms.
Michael P. Evers, Markus Kontny, Sven Schweickhardt
Research contributions:
- Payment Systems in Dynamic Macromodels
Michael P. Evers, Markus Kontny, Sven Schweickhardt (2022)
- CBDC in Dynamic Macromodels with a focus on payments
Michael P. Evers, Markus Kontny, Sven Schweickhardt (2022)
Michael P. Evers, Sven Schweickhardt (2022)
- Convergence of Electronic Retail Payments Usage In Europe: Are There Digital Lessons?
Markus Kontny, Francesco Mongelli (2022)
