Central Bank Digital Currencies (CBDCs) as a New Tool of E-Government: Socio-economic Impacts

Abstract

A central bank digital currency (CBDC) in comparison with other forms of digital money presents a direct claim on the issuing central bank. There are three architecture types of CBDC, namely indirect CBDCs, hybrid CBDCs, and direct (retail) CBDCs, all based on blockchain technology. This paper briefly discusses these three types and outlines the major socio-economic effects this new e-government tool could have on the economy.