Digital Payments, Distributed Ledger Technology, Regulations and Adoption

Dear Colleagues,

The importance of financial technology and financial stability are notably interconnected. Amid the progress made in the tokenization of real-world assets—and tokenization more broadly—combined with the emphasis on reducing transfer costs and enhancing the efficiency and speed of digital payments, including cross-border payments including international remittance transfers as a priority of the Sustainable Development Goals (SDGs), the role of distributed ledger technology is gaining significant momentum. However, developments in this technology are still ongoing. Significant complexities remain, particularly regarding the regulatory frameworks governing financial transactions via distributed ledger systems, the use of digital currencies (including stablecoins), public–private partnerships, and the adoption and scalability of distributed ledger technology. Variations in technological and infrastructural development, regulatory maturity—or the absence thereof—and investment in fintech education also play a critical role in shaping digital payment flows. Therefore, with the advancement of distributed ledger technologies and the growing importance of digital payments at the forefront of this field, this Special Issue invites papers that offer valuable insights into the historical evolution of distributed ledger technology and its relationship with financial development. It also welcomes contributions that examine the current state of financial systems in relation to distributed ledger technology and specific types of cross-border payments and/or digital payments in general, as well as the interplay between the financial flows, regulatory frameworks, and technological innovation—all of which are expected to shape the future landscape of international finance. Hence, we invite papers that explore or critically analyze the evolution of digital payments, either retrospectively, prospectively, or in terms of the current state of play.

Topics of interest in this issue include, but not limited to are, the following:

• Bibliometric exposition of digital payments and/or cross-border payments and the supporting technology;
• Progress, or the lack thereof, in distributed ledger technology supporting digital payments in developed, developing and small economies;
• The intersection between regulation and digitalized finance;
• Sustainable development goals (SDGs) supporting digital payment and how distributed ledger technology can support the flows;
• Regional or in-depth country-specific analysis on financial development, financial technology and markets;
• Development of financial regulations, cross-border payments and uptake of financial technology;
• Role of public–private partnership, including central banks, in relation to cross-border payments and financial technology.

We invite empirical and theoretical studies, supported by evidence-based qualitative or quantitative analysis, to guide readers with deep insights on the theme. Papers should be closely aligned with the aims of this Special Issue and the broader aims of the Journal of Risk and Financial Management (JRFM). 

Dr. Ronald Ravinesh Kumar
Prof. Dr. Peter Josef Stauvermann
Guest Editors

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• financial technology (FinTech)
• financial stability
• distributed ledger technology (DLT)
• digital payments
• cross-border payments
• tokenization/real-world asset (RWA) tokenization
• financial regulations