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Innovations in Payment Technologies and the Emergence of Digital Currencies

Year: 2014

Type: article

Abstract: Modern electronic payment systems rely on trusted, central third parties to process payments securely. Recent developments have seen the creation of digital currencies like Bitcoin, which combine new currencies with decentralised payment systems. Although the monetary aspects of digital currencies have attracted considerable attention, the distributed ledger underlying their payment systems is a significant innovation. As with money held as bank deposits, most financial assets today exist as purely digital records. This opens up the possibility for distributed ledgers to transform the financial system more generally.

Source: RePEc: Research Papers in Economics

Authors: Robleh Ali, John Barrdear, Roger Clews, James Southgate

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

Open Access status: green

OpenAlex ID: W3125055505

FWCI: 29.4

Cites:

Cited by: 134

Related to: 10