Research Discussion Papers, Bank of Finland
No 7/2000:
Surveys on Electronic Money
Yuksel Gormez ()
and Forrest Capie ()
Abstract: This paper investigates the views of electronic money
operators and innovators on the possibilities and implications of e-money,
especially with respect to replacing central bank money as well as
technical issues regarding e-money, its implications for the financial
industry and central banking. This has been done using surveys of major
e-money innovators and operators, based on the assumption that these
operators and innovators are likely to shape the future framework for
e-money schemes. It seems that innovators and operators are quite confident
about the future of e-money – despite problems and obstacles surrounding
current testing – and that central banks’ monopoly of the issuance of money
as a medium of exchange will no longer be unchallenged.
Keywords: electronic money; financial regulation; central banks; financial innovation; (follow links to similar papers)
49 pages, June 30, 2000
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