Cryptocurrency, Security, and Financial Intermediation

【Author】 Glenn, Nicholas; Reed, Robert

【Source】JOURNAL OF MONEY CREDIT AND BANKING

【影响因子】1.963

【Abstract】In recent years, the use of cryptocurrencies has increased. As these currencies continue to play a larger role, they eventually will be an important component of banking system activity. Moreover, in addition to the standard role of financial intermediaries to facilitate lending, intermediaries can be valuable firms that help provide safekeeping of tokens. The objective of this paper is to demonstrate these important functions in a microfounded model of monetary exchange. Furthermore, we also consider the possibility that central banks issue their own digital currencies that may affect the level of intermediation in the private banking system.

【Keywords】cryptocurrency; monetary policy; central bank digital currency

【发表时间】

【收录时间】2023-03-13

【文献类型】观点阐述

【主题类别】

区块链治理-市场治理-数字货币