Digital currency and blockchain security in accelerating financial stability : a mediating role of credit supply

This study examines how blockchain and digital currency have affected the supply of credit and financial stability. It pays particular attention to industry-based analyses and options presented by cryptocurrencies, stablecoins, and digital currencies for the credit supply and financial stability. A positivistic or quantitative research design is employed. The method of data collection is a survey-based questionnaire, as well as the time interval data method, from December 2021 to December 2022. The study sample comprises of five industrial zones of Punjab. The respondents are businessmen, managers, and employees (N = 449). The study finds that the use of various digital currencies quickly transforms business. The study shows that most industries do not require central banks and, instead, concentrate on modern digital currency and blockchain systems for monetary transfers. The private and public models of physical money will likely fail in the future. Rather, central banks should adopt digital currency and blockchain with an online technological payment strategy in order to enhance domestic financial stability and payment systems.