Are We on the Brink of a Cashless Future with Digital Currencies?

The Currency Crisis

By IGI Global on Sep 26, 2024
digitalThe rise of bitcoin and other cryptocurrencies is paving the way for physical currency to fade into history. As more aspects of life transition online, it’s only natural that money follows suit. Countries worldwide are recognizing the advantages of virtual currencies, leading to a significant transformation in central banking. A recent study has found that 98% of the global GDP has explored the adoption of online currency.

In response to this growing interest, Central Bank Digital Currencies (CBDCs) have emerged. CBDC is known as the digital version of a nation's currency, that also includes a claim on the central bank of that area. So, instead of printing physical money, the government provides electronic currency or accounts instead. This use of CBDC has become a prominent usage across the globe, with thirteen countries already in the pilot stages of launching the program.

While various forms of digital currency already exist, governments are increasingly acknowledging the benefits and practicality of these systems. For many nations, online currencies can enhance financial accessibility in underbanked regions and intensify competition among domestic markets to improve currency access. This shift toward virtual money is just the beginning of a larger transformation, signaling the decline of cash as we know it. Dr. Hamed Taherdoost, with over two decades of experience, provides insights on this movement toward online currency which can be found in the SCOPUS-Indexed book, Exploring Global FinTech Advancement and Applications (ISBN: 9798369315613).
9798369315613
Exploring Global FinTech Advancement and Applications
Profs. Hamed Taherdoost, Nam Le, Mitra Madanchian, and Yousef Farhaoui
©2024 | 391 pgs. | ISBN13: 9798369315613
Topics Covered Include:
  • Future of Global FinTech Careers
  • North American FinTech Regulation
  • Regional Financial Inclusion Challenges
  • Security Concerns



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photo of Dr. Hamed Taherdoost
“Cryptocurrencies like Bitcoin, Ethereum, and others have rapidly transformed financial markets by offering a new level of financial autonomy, reducing transaction costs, and providing instant cross-border transactions. Looking into the future of digital finance, cryptocurrency is poised to play a pivotal role in revolutionizing how we conduct business, manage financial transactions, and interact with global markets."

-Dr. Hamed Taherdoost, University Canada West
9798369355886
Global Developments in Central Bank Digital Currency
Prof. Peterson K. Ozili
©2024 | 307 pgs. | ISBN13: 9798369355886
Topics Covered Include:
  • Central Bank Digital Currencies
  • Financial Inclusion
  • Financial Regulation
  • Monetary Evolution



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9798369317587
Revolutionizing the Global Stock Market
Profs. Nuno Geada, Rohit Sood, and Ajay Sidana
©2024 | 285 pgs. | ISBN13: 9798369317587
Topics Covered Include:
  • Adoption of Blockchain Technology
  • Blockchain and Stock Market Disruptions
  • Cryptocurrency Role in the Stock Market
  • Stock Market and Disruptive Technologies



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9798369318829
Exploring Central Bank Digital Currencies
Profs. Guneet Kaur, Pooja Lekhi, and Simriti Popli
©2024 | 359 pgs. | ISBN13: 9798369318829
Topics Covered Include:
  • Blockchain Technology
  • CBDCs
  • Monetary Policy in the Digital Age
  • The Evolution of Money



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9798369313312
Harnessing Technology for Knowledge Transfer in Accountancy, Auditing, and Finance
Profs. Samuel Kwok, Mohamed Omran, and Poshan Yu et. al.
©2024 | 279 pgs. | ISBN13: 9798369313312
Topics Covered Include:
  • Artificial Intelligence
  • Blockchain
  • Computing
  • Ethical Considerations



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9798369307700
Digital Currency Assets and Challenges to Financial System Stability
Profs. Adekunle Alexander Balogun and Yusuf Olatunji Oyedeko
©2024 | 227 pgs. | ISBN13: 9798369307700
Topics Covered Include:
  • Blockchain Technology
  • Digital Marketing Strategies
  • Knowledge Management
  • Online Privacy Concerns



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9781668466582
Advancements in the New World of Web 3
Profs. Jane Thomason and Elizabeth Ivwurie
©2023 | 323 pgs. | ISBN13: 9781668466582
Topics Covered Include:
  • Cryptocurrencies
  • Decentralized Future
  • FinTech Implications
  • Real-World Use Cases



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9781668483688
Mainstreaming Cryptocurrency and the Future of Digital Finance
Prof. Hamed Taherdoost
©2023 | 330 pgs. | ISBN13: 9781668483688
Topics Covered Include:
  • Bitcoin
  • Cryptocurrency
  • Digital Finance
  • Digital Money



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9781668456910
Emerging Insights on the Relationship Between Cryptocurrencies and Decentralized Economic Models
Profs. Dhanapal Kesavan and N. Mari Anand
©2023 | 256 pgs. | ISBN13: 9781668456910
Topics Covered Include:
  • Central Bank Digital Currency
  • Economic Instability
  • Financial Crime
  • Financial Reporting



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9781668462478
Blockchain Applications in Cryptocurrency for Technological Evolution
Prof. Atour Taghipour
©2023 | 308 pgs. | ISBN13: 9781668462478
Topics Covered Include:
  • Blockchain Technology
  • Crypto Mining Attacks
  • Cybersecurity
  • Supply Chain



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Founded in 1988 and headquartered in Hershey, Pennsylvania, USA with a subsidiary office (IGI Science and Technology, Ltd.) in Beijing, China, IGI Global is a rapidly growing, mid-sized, independent international academic publisher dedicated to releasing high-quality, peer-reviewed scholarly research publications in the three major academic subject areas of Business & Management, Science, Technology, & Medicine (STM), and Education & Social Science. Our commitment is to advance the discovery of pioneering scientific research promptly through swift and agile processes, with books released in approximately 6-9 months from start to finish. With more than 200,000 research collaborations with experts from leading institutions around the world, IGI Global anticipates publishing over 1,000 books during 2025 copyright year, positioning our publishing output among the industry’s giants with centuries of history. Our Open Access Journal Program includes nearly 200 fully open access journals, making IGI Global one of the largest 100% open access journal publishers in the world. Through traditional book publishing and open access options, IGI Global strives to bring cutting-edge high-quality research at the pace of innovation, ensuring that tomorrow’s research is published today.
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