A Survey of Research on Retail Central Bank Digital Currency
66 Pages Posted: 24 Jul 2020
Date Written: July 1, 2020
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.
Keywords: money, monetary policy, central bank digital currency
JEL Classification: E51, E52, E58
Suggested Citation: Suggested Citation