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Central Bank Digital Currency

A Technical, Legal and Economic Analysis

  • Book
  • © 2023

Overview

Authors:
  1. Leo Kriese

    1. Frankfurt am Main, Germany

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  • Includes in-depth analyses on civil law nature of digital assets
  • Provides a comprehensive review on the use of digital public money in monetary policy
  • Provides background information to the rapidly expanding field of financial technology

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xii
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  2. Understanding the Notion of Central Bank Digital Currency

    1. Front Matter

      Pages 1-1
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    2. Terminology and Motives for Central Bank Digital Currency

      • Leo Kriese
      Pages 3-18

    3. Technical Design

      • Leo Kriese
      Pages 19-39

  3. Analysing the Legal Aspects of Central Bank Digital Currency

    1. Front Matter

      Pages 41-41
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    2. Monetary Constitutional Law

      • Leo Kriese
      Pages 43-60

    3. Roles of the Parties Involved

      • Leo Kriese
      Pages 61-68

    4. Status as Legal Tender

      • Leo Kriese
      Pages 69-79

    5. Aspects of Fundamental Rights

      • Leo Kriese
      Pages 81-95

    6. Private Law

      • Leo Kriese
      Pages 97-154

  4. Analysing the Economic Aspects of Central Bank Digital Currency

    1. Front Matter

      Pages 155-155
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    2. Economic Implications of Central Bank Digital Currency

      • Leo Kriese
      Pages 157-187

    3. Monetary Policy

      • Leo Kriese
      Pages 189-205

  5. Conclusion

    1. Front Matter

      Pages 207-207
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    2. A Milestone in the History of Means of Payment

      • Leo Kriese
      Pages 209-211

  6. Back Matter

    Pages 213-220
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Keywords

About this book

This book offers a deeper understanding of digitisation and innovative technologies in the financial sector. It focuses on a digital version of sovereignly created money that is accessible to the broad public. This central bank digital currency (CBDC) raises several questions. Will CBDC lead to public surveillance of the citizens? What is digital money in the legal sense? And what is the difference to already existing forms of digital money? This book addresses main questions associated with central bank digital currency by providing background information as well as in-depth analyses.

The book introduces a basic understanding of innovative technologies such as the distributed ledger technology. It shows how a system of money can be created and what roles each participant has. Taking an economic point of view, the book demonstrates the monetary policy in the euro area and examines how a digital version of public money could affect the transmission mechanism as well as the financial stability. Could CBDC lead to a "digital bank run"? Could it replace the established financial intermediaries such as banks? What would that mean to the economy?

Mainly, the book focuses on the legal issues of CBDC. Which is the competent institution for establishing digital public money? Will digital money change the way of how we handle financial data? Also, the book examines the legal usability of CBDC in the economy. How can digital money based on innovative technologies be transferred in accordance with the law? Can a debtor of a monetary claim flee into the digital currency?

This book addresses the public and private sector participants as well as the legislators on how to handle CBDC. Most important, the book addresses everyone interested in digitisation and innovative financial technology who wants to gain a deeper understanding of the next big evolvement of money.


Authors and Affiliations

  • Frankfurt am Main, Germany

    Leo Kriese

About the author

Leo Kriese studied law with a focus on public law at the Friedrich Schiller University of Jena. During his studies, he worked as a student assistant and, following his studies, as a research assistant at the Chair of Public Law, European Law, International Law and International Business Law of Prof. Dr. Christoph Ohler, LL.M. (Bruges) at the Friedrich Schiller University of Jena. For this book he had the opportunity to work with the European Commission, DG FISMA in Brussels. 

Bibliographic Information

  • Book Title: Central Bank Digital Currency

  • Book Subtitle: A Technical, Legal and Economic Analysis

  • Authors: Leo Kriese

  • DOI: https://doi.org/10.1007/978-3-031-44738-9

  • Publisher: Springer Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023

  • Hardcover ISBN: 978-3-031-44737-2Published: 01 November 2023

  • Softcover ISBN: 978-3-031-44740-2Due: 02 December 2023

  • eBook ISBN: 978-3-031-44738-9Published: 31 October 2023

  • Edition Number: 1

  • Number of Pages: XII, 220

  • Topics: European Economic Law, Finance, general, Macroeconomics/Monetary Economics//Financial Economics

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