Management and Economics Scientific Research Journal Volume 2 Issue 2 (2025) · pp. 71-77
DIGITAL CURRENCIES AND CENTRAL BANKS: AN ANALYSIS FROM A NATIONAL ECONOMIC SECURITY PERSPECTIVE
Baxanurov Oqil Odil o‘g‘li
Abstract
In recent years, the rapid development of digital technologies has brought aboutfundamental changes in the global financial system. In particular, digital currencies — centralbank digital currencies (CBDCs) and decentralized cryptocurrencies (Bitcoin, Ethereum) — havebecome the focus of financial innovation. This article analyzes the types of digital currencies, theirtechnological foundations (blockchain, PoW, PoS), their role in financial integration, their impacton the traditional banking system, and their risks to stability. It also compares the approaches ofcountries such as the United States, China, the European Union, and Uzbekistan to the adoptionand regulation of digital currencies. It is emphasized that the development of digital currencies isa pressing issue that requires strategic decisions for regulators, including global financialcompetition and sovereignty, the efficiency of payment systems, and global financial integration.
Digital currencies, cryptocurrency, CBDC, blockchain, financial system, decentralized governance, Ethereum, Bitcoin, digital economy, regulation, financial stability, Uzbekistan, global financial integration
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