In some nations, including Sweden and South Korea, cash payments are becoming increasingly
uncommon. Other nations, such as Germany, continue to predominantly prefer cash.
At the same time, digital currency is on the rise, and the announced launch of Facebook’s
stablecoin Libra, in particular, has caused a debate around digital money. In response, a
number of central banks have begun to consider launching their own versions of digital
currency. This article analyzes characteristics of both cash and digital currency and illustrates
advantages as well as disadvantages of digital money and a cashless society. In particular,
privacy concerns regarding digital cash are addressed. In addition, compliance risks
are highlighted, and it is deliberated whether the introduction of digital cash could lead to
a decrease in crime related to cash and cryptocurrencies.
| Identifer | oai:union.ndltd.org:DRESDEN/oai:qucosa:de:qucosa:70813 |
| Date | 13 May 2020 |
| Creators | Teichmann, Fabian, Falker, Marie-Christin |
| Publisher | Universität Leipzig, University of Miami |
| Source Sets | Hochschulschriftenserver (HSSS) der SLUB Dresden |
| Language | English |
| Detected Language | English |
| Type | info:eu-repo/semantics/acceptedVersion, doc-type:article, info:eu-repo/semantics/article, doc-type:Text |
| Rights | info:eu-repo/semantics/openAccess |
| Relation | urn:nbn:de:bsz:15-qucosa2-708024, qucosa:70802 |
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