CBDC VS BITCOIN: COMPETITION OR COEXISTENCE?

Abstract

The article examines key trends in the development of digital currencies in the context of the transformation of the global financial system. Based on a comparative analysis, central bank-controlled central digital currencies (CBDCs) and decentralized cryptocurrencies, primarily Bitcoin, are considered as alternative models of digital money. The fundamental differences between them are identified in terms of issuance mechanisms, level of regulatory support, degree of transparency and application of blockchain technologies.