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The aim of this paper is to explore the theoretical foundations of Central Bank Digital Currencies (CBDCs), as a digital variant of traditional existing money. We present the characteristics, advantages and disadvantages of Central Bank Digital Currencies in the current context of financial digitalization. We also distinguish them from cryptocurrencies, which are virtual currencies issued in a decentralized manner by private entities. In addition, we examine how different countries are approaching CBDC implementat...

In this paper we aim to present the theoretical foundations of virtual currencies, distinguishing them from legal tender, and to explore the blockchain technology that underpins their creation. We classify the existing virtual currencies into three categories (cryptocurrencies, stablecoins, and Central Bank Digital Currency), and analyze their characteristics and market evolution. We also present the evolution of popular cryptocurrencies, bitcoin and Ethereum, underline their market dynamics, historical price tren...