A Survey of Research on Retail Central Bank Digital Currency

Author: Mr. John Kiff, Jihad Alwazir, Sonja Davidovic, Aquiles Farias, Mr. Ashraf Khan, Mr. Tanai Khiaonarong, Majid Malaika, Mr. Hunter K Monroe, Nobu Sugimoto, Hervé Tourpe, and Peter Zhou

Volume/Issue: Volume 2020 Issue 104

Publication date: June 2020

ISBN: 9781513547787

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Money and Monetary Policy , Public Finance , WP , CBDC issuance , CBDC arrangement , CBDC holding , cyber-security payment , monetary policy , money , central bank digital currencies , legal tender , payment system , cyber security , user CBDC holding , Currencies , Payment systems , Digital currencies , Legal support in revenue administration , Global , Eastern Europe , Pacific Islands , Caribbean , policy risk , CBDC pilot , CBDC payment system , CBDC transaction , cash currency management function , platform implementation decision , CBDC platform

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Summary

This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal, governance and regulatory perspectives; plus cybersecurity and other risk considerations. This paper makes a contribution to the CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an operational focus and a project management perspective.