A Survey of Research on Retail Central Bank Digital Currency

Abstract

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

JEL Classification: E51, E58, E52, G21, E01, G2, M41