THE USE OF DIGITAL CURRENCIES AND BLOCKCHAIN TECHNOLOGY IN BANKING SYSTEMS

SHERIFI, Shkëlqim and RUSTEMI, Avni and IDRIZI, Florim (2025) THE USE OF DIGITAL CURRENCIES AND BLOCKCHAIN TECHNOLOGY IN BANKING SYSTEMS. Journal of Natural Sciences and Mathematics of UT, 10 (19-20). pp. 370-379. ISSN 2671-3039

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Abstract

The use of cryptocurrencies today is marking a new digital market, where people all over the world make a large part of their business transactions through digital currencies. This, on the one hand, represents a new step towards digitalization and the use of contemporary technologies such as blockchain, artificial intelligence, machine learning etc., which guarantee above all decentralization of services, security, transparency, traceability, but on the other hand, it represents a challenge, because not everyone is accustomed to and wants to use digital money, and still prefers the use of physical money. The use of digital currencies is not legitimate in every democratic country, respectively their use must conform to the laws and economic standards of a country. The use of digital currencies by central and commercial banks in different parts of the world is very important nowadays. This means that different countries are slowly introducing their digital currencies for internal and external use, to carry out digital transactions with their specific currencies, which would directly affect the economy of that country. Through this paper, we will briefly provide an overview of the use of digital currencies by central banks, their security, and the main features that enable these digital currencies. We will present a framework using blockchain technology, on how to safely operate digital processing between central and commercial banks, as well as towards clients. Finally, we will conduct analyses and comparisons with the current way of functioning, describing the possibilities for future implementation in banking systems in our country.

Item Type:	Article
Uncontrolled Keywords:	Blockchain, Banking Systems, Digital Currency, CBDC.
Subjects:	Q Science > Q Science (General)
Divisions:	Faculty of Engineering, Science and Mathematics > School of Electronics and Computer Science
Depositing User:	Unnamed user with email zshi@unite.edu.mk
Date Deposited:	28 Dec 2025 18:07
Last Modified:	28 Dec 2025 18:07
URI:	http://eprints.unite.edu.mk/id/eprint/2333

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