موقع العملات الرقمية للبنوك المركزية CBDC من العملات المشفرة و العملات المستقرة : اليوان الرقمي أنموذجا

الملخص EN

This study aims to determine the position of central banks digital currency versus cryptocurrencies and stable coins, and to define the benefits of adopting such currencies.

The research highlights also the Chinese digital currency ‘’e-Yuan’’, which is one of the early initiatives in this field, through which China seeks to create a digital currency equivalent to its fiat currency, to contribute in achieving higher degrees of financial inclusion, and to help develop its digital economy.

The study found that there are several fundamental differences between central bank digital currencies, cryptocurrencies, and stable coins, in particular: the issuer, the stability of the currency value and the reserves of issuance.

The Chinese yuan is a prominent example of this type of currency, through which China seeks to replace the M0 cash issuance, achieve the advantages of wide geographical spread and financial inclusion, and face competition from other crypto and stable currencies.