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These studies suggest that digital currencies and blockchain technology can enhance transaction processing, decentralization, and financial inclusion, while also posing minimal monetary policy risks and potentially revolutionizing economic transactions, though they may require redesign to address issues like volatility and central bank intervention.
20 papers analyzed
The advent of digital currencies and blockchain technology has sparked significant interest and debate regarding their potential impacts on financial systems and economic policy. This synthesis aims to consolidate key insights from various research papers to provide a comprehensive understanding of these impacts.
Central Bank Digital Currencies (CBDCs) and Financial Stability:
Blockchain and Market Competition:
Economic Growth and Financial Inclusion:
Monetary Policy and Digital Currencies:
Technological and Organizational Changes:
Digital currencies and blockchain technology are reshaping financial systems and economic policies by promoting financial stability, enhancing market competition, and fostering economic growth. While digital currencies are unlikely to replace traditional fiat currencies, their integration into the financial system can lead to more efficient and inclusive economic transactions. Central banks and financial institutions must navigate these changes carefully to harness the benefits while mitigating potential risks.
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