Modern models of systems of central bank digital currency

The article examines modern models of digital currency systems central banks (CBDC) for retail payments and wholesale settlements. study gives economic interpretation defines the key characteristics bank currencies, identifies features main currencies analyzes most advanced national implementation projects CBDC. concludes that are a new (digital) form fiat money. is due to need improve efficiency monetary payment aimed at preserving as issuer. advantages offer highly liquid, low-risk universally accessible means payment. benefits provide faster, safer, cheaper cross-border payments. Among (R-CBDC) model hybrid system characterized by best reliability speed when processing large number transactions. Therefore, these promising implementation. Between (W-CBDC) with universal suitable eliminating problems However, such may require technological, managerial financial changes in banks. Currently, project issuing R-CBDC DCEP People’s Bank China, which implemented on basis model. W-CBDC jointly leading countries, they technological unification Most involve use convertible or currency.