Abstract
AbstractDigital innovations in banking and payments recently have garnered a great deal of attention. Specifically, distributed ledger technology (DLT) has the potential to fundamentally change the roles and responsibilities of stakeholders in the financial sector. DLT is a novel and fast-evolving approach to record and share data, e.g., payment transactions, among members of a decentralized network. Using transaction cost theory, the
paper examines how DLT will change the cross-border payment infrastructure. DLT can reduce the overall transaction costs potentially resulting in the disappearance of correspondent banks.
Funder
Eberhard Karls Universität Tübingen
Publisher
Springer Science and Business Media LLC
Reference61 articles.
1. Afonso, G., & Shin, H. S. (2011). Precautionary demand and liquidity in payment systems. Journal of Money, Credit and Banking,43, 589–619. https://doi.org/10.1111/j.1538-4616.2011.00454.x.
2. Allen, F., Babus, A., & Carletti, E. (2012). Asset commonality, debt maturity and systemic risk. Journal of Financial Economics,104(3), 519–534. https://doi.org/10.1016/j.jfineco.2011.07.003.
3. Armknecht, F., Karame, G.O., Mandal, A., Youssef, F., & Zenner, E. (2015). Ripple: Overview and outlook. In: Conti, M., Schunter, M., & Askoxylakis, I. (eds). International Conference on Trust and Trustworthy Computing, Springer International Publishing, pp. 163–180.
4. Auer, R., & Boehme, R. (2020). The technology of retail central bank digital currency. Quarterly Review, March: 85–100, Bank for International Settlements.
5. Bank of Canada, Bank of England, and Monetary Authority of Singapore (2018) Cross-border interbank payments and settlements. Emerging opportunities for digital transformation, https://www.mas.gov.sg/-/media/MAS/ProjectUbin/Cross-Border-Interbank-Payments-and-Settlements.pdf.
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献