The Role and Impact of Central Bank Digital Currencies on Financial Transformation
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| Format: | Thesis |
| Kulcsszavak: | digitalizáció finance fiskális politika innováció jegybank kriptopénz monetáris politika |
| Online Access: | http://dolgozattar.uni-bge.hu/57130 |
| Abstract: | The rapid digitalization of financial systems and the rise of cryptocurrencies have challenged central banks to innovate while maintaining monetary stability. Central Bank Digital Currencies (CBDCs) represent a transformative solution, combining the benefits of digital payments with central bank oversight. This thesis examines the potential of CBDCs to enhance monetary and fiscal policies, foster financial inclusion, and address challenges like privacy, cybersecurity, and technological scalability. Through a mixed-methods approach, the study integrates quantitative survey data and qualitative interviews with financial experts, alongside international case studies of the digital yuan and e-krona. Findings reveal CBDCs’ ability to streamline monetary transmission and fiscal operations, though concerns about banking disintermediation, public trust, and technological infrastructure remain key challenges. By analyzing Hungary’s initiatives, such as the "Diákszéf" program and blockchain-based pilot projects, the research highlights opportunities for Hungary to align with global trends while tailoring CBDC solutions to domestic needs. The thesis concludes with actionable recommendations for policymakers, emphasizing a hybrid CBDC model to ensure stability, accessibility, and innovation. |
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