CRYPTOCURRENCIES AND CENTRAL BANK DIGITAL CURRENCIES (CBDCS): OPPORTUNITIES AND RISKS

Bakoeva Gulbakhor

The university of world economy and diplomacy

Keywords: Cryptocurrency, Central Bank Digital Currency (CBDC), blockchain, digital finance, financial stability, fintech, monetary policy, financial inclusion, regulation.

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Abstract

This paper explores the similarities and differences between cryptocurrencies and central bank digital currencies (CBDCs), examining how both forms of digital money shape the global financial landscape. It highlights the opportunities these innovations offer for improving payment systems, financial inclusion, and cross-border transactions, while also addressing associated risks such as cybersecurity, volatility, and regulatory uncertainty. Drawing on recent empirical studies and global developments, the article provides an analytical overview of how decentralized and centralized digital currencies coexist and compete within the modern economy.

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References

1. Atlantic Council (2024). CBDC Tracker: Global Developments in Central Bank Digital Currencies.

2. Bank for International Settlements (BIS) (2024). CBDCs: Motivations, Design, and Implementation.

3. International Monetary Fund (IMF) (2023). Digital Money and the Future of Monetary Policy.

4. World Bank (2023). Global Findex Database: Financial Inclusion and Digital Finance.

5. Chainalysis (2024). Crypto Crime Report 2024.

6. Deloitte (2023). The Future of Payments: Blockchain and Cross-Border Efficiency.

7. PwC (2024). Time for Trust: Blockchain and the Future of Digital Economy.