CAIRN-INT.INFO : International Edition

Digital Currencies and Cryptoassets

Page 9 to 17
Page 19 to 31

Current Situation

Page 35 to 51
Page 53 to 71
Page 73 to 90
Page 91 to 105
Page 107 to 118

Perspectives and Questions

Page 121 to 138
Page 139 to 152
Page 153 to 173
Page 175 to 190
Page 191 to 204

Macroeconomic and Societal Stakes

Page 207 to 224
Page 225 to 239
Page 241 to 255
Page 257 to 269

Financial History Chronicle

Page 271 to 279

Finance and Literature

Page 281 to 287


Page 289 to 291


Page 295 to 308

Under the joint direction of Pierre Lahbabi (Sopra Steria) and Christian Pfister (Paris Institute of Political Studies), issue 149 of the Revue d’économie financière (REF) focuses on digital currencies.

This term is understood as referring to central bank digital currencies (CBDCs) issued by the public sector and stablecoins, issued by the private sector but which aim to maintain a fixed exchange rate with a reference currency. At the beginning of 2023, 91 central banks were reported to be studying the creation of CBDCs, while stablecoins were valued at about $140 billion, indicating the importance of these digital currencies.

After an initial diagnosis of how cryptoasset markets function, the first section proposes to review the current situation. It highlights the contribution of the French and European “crypto” industry, provides an economic analysis of different categories of stablecoins, puts the studies of central banks on this subject into historical and geographical perspective, and presents the technologies underlying digital currencies.

The articles in the second section of the review address the perspectives of these new forms of money and the interrogations they are raising. These articles discuss the legal conditions for the issuance of the digital euro, the respective roles of the public and private sectors, and the extent to which they complement cash, as well as the role of banks in this ecosystem and the regulation of stablecoins (how their reserves are managed and how this money is used to make payments).

The macroeconomic and societal issues are analyzed in a third section from the perspective of financial stability, monetary policy, the international monetary system, and protecting privacy.

This journal aims to be an instrument of dialogue between academics, researchers and professionals in finance and banking. It aims to contribute to the discussion and reflection that are essential for the cohesion of the financial and banking professions. Read more...
Uploaded on on 06/04/2023
ISBN 9782376470816
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