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The Six Ways to Build Trust and Reduce Privacy Concern in a Central Bank Digital Currency (CBDC)

Zarifis A. & Cheng X. (2023) ‘The six ways to build trust and reduce privacy concern in a Central Bank Digital Currency (CBDC)’. In Zarifis A., Ktoridou D., Efthymiou L. & Cheng X. (ed.) Business digital transformation: Selected cases from industry leaders, London: Palgrave Macmillan, pp.115-138. h

24 Pages Posted: 20 Dec 2023

See all articles by Alex Zarifis

Alex Zarifis

University of Southampton; University of Cambridge - Cambridge Judge Business School

Xusen Cheng

Renmin University of China

Date Written: December 7, 2023

Abstract

Central Bank Digital Currencies (CBDCs) have been implemented by only a handful of countries, but they are being explored by many more. CBDCs are digital currencies issued and backed by a central bank. Consumer trust can encourage or discourage the adoption of this currency, which is also a payment system and a technology. This research attempts to understand consumer trust in CBDCs so that the development and adoption stages are more effective and satisfying for all the stakeholders.

Keywords: Trust, Central Bank Digital Currency, CBDC, cryptoasset, cryptocurrency, blockchain, Fintech

JEL Classification: M1, M10, M15, M2, G00, G1, G21, G23, G18, F3, F30, D03, A14

Suggested Citation

Zarifis, Alex and Cheng, Xusen, The Six Ways to Build Trust and Reduce Privacy Concern in a Central Bank Digital Currency (CBDC) (December 7, 2023). Zarifis A. & Cheng X. (2023) ‘The six ways to build trust and reduce privacy concern in a Central Bank Digital Currency (CBDC)’. In Zarifis A., Ktoridou D., Efthymiou L. & Cheng X. (ed.) Business digital transformation: Selected cases from industry leaders, London: Palgrave Macmillan, pp.115-138. h, Available at SSRN: https://ssrn.com/abstract=4657998

Alex Zarifis (Contact Author)

University of Southampton ( email )

Southampton Business School
Southampton
United Kingdom

University of Cambridge - Cambridge Judge Business School ( email )

Trumpington St.
Cambridge, CB21AG
United Kingdom

Xusen Cheng

Renmin University of China ( email )

59, Zhongguancun South Street
Haidian District
Beijing, Beijing 100872
China

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