Presenting the Central Bank's Cryptocurrency Release Model using Distributed Ledger Technology

Subject Areas : Financial engineering

Mohammad Reza Mani Yekta ¹ , mahnaz rabiei ² , Seyed Alireza Derakhshan ³

1 - Department of Information Technology Management, South Tehran Branch, Islamic Azad University, Tehran, Iran
2 - Department of Information Technology Management, South Tehran Branch, Islamic Azad University, Tehran, Iran
3 - Department of Information Technology Management, South Tehran Branch, Islamic Azad University, Tehran, Iran

Received: 2023-01-21 Accepted : 2023-11-01 Published : 2024-08-15

Keywords: Mixed method, CBDC, CBCC, Central Bank Currency, Distributed Ledger Technology, Central Bank Digital Money,

Abstract :

Central Bank Cryptocurrency (CBDC) is a semi-decentralized solution based on DLT. This money is issued electronically by central banks to facilitate payments without intermediaries. this research aims to model CBDC and is conducted with a mixed approach (qualitative and quantitative methods). In the qualitative part, a conceptual model was designed by asking the opinions of 20 experts through an open questionnaire and a coding approach was tested by a sample of 102, banking and payment experts. In the quantitative part, the reliability and validity features of the questionnaires were investigated, and in the structural part, the model coefficients were evaluated to check the research hypotheses. The results of this research, while determining many factors affecting the circulation of the central bank's currency, confirm that the circulation of money is the basis for the social acceptance of this phenomenon and emphasizes the necessity of its precise policy. Some background and intervening factors are also identified in the model. On the other hand, the consequences of publishing cryptocurrency in this model are influencing monetary policy, other businesses, banks, and some other micro and macro factors.

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