Published Work
Conference Paper on CBDC
Abstract: CBDC has become a discussion topic with worldwide economic and societal relevance. Payment system efficiency is a top driver for digital currency adoption. We examine literature gaps for payment ecosystem impact on CBDC adoption and design, and conduct tests for 65 World Bank countries. We measure payment alternatives and preferences impacts and estimate least squares and limited dependent variables regressions. CBDC adoption is driven by payment ecosystem, alternative characteristics, e-money usage, perceived safety, and infrastructure. This signals that user familiarity with digital payment methods, trust in authorities, and structural capabilities support CBDC adoption. Adoption is inversely related to alternatives that dampen the need for CBDC. Transaction volume and trust in authorities are linked to choosing a central database, not a digital ledger technology (DLT) infrastructure. Deviations occur from ambiguous effects of cash and DLT usage on CBDC adoption and industry concentration, architecture, and linkages.
Di Giammaria, C.; Omarini, A.; Kauffman, R.; and Kim, K., "Evaluating Effects of the Payment Ecosystem on Central Bank Digital Currency Adoption and Design" (2023). Hawaii International Conference on System Sciences 2023 (HICSS-56)
BigTech and Financial System
Abstract: The rise of BigTech companies in finance is reshaping the international financial system. This paper examines the potential and implications of BigTech entry, particularly focusing on their credit offerings. It discusses the activities, business models, and adoption factors, emphasizing regulatory aspects. The analysis compares BigTechs' risk assessment, control activities, and pricing strategies with traditional financial institutions. The study also evaluates the performance and limitations of Google, Amazon, Facebook, and Apple, highlighting their impact on financial inclusion, efficiency, and growth, and considering future partnerships with traditional financial operators.
Frost, J. (2020). Bis Working Papers. No. 838. The economic forces driving fintech adoption across countries. Bank for International Settlements.
Work in Progress
Actively working on further empirical research on CBDC and IPOs.