How does post-quantum cryptography affect Central Bank Digital Currency?

• URL: http://arxiv.org/abs/2308.15787v2
• Date: Mon, 18 Dec 2023 11:53:08 GMT
• Title: How does post-quantum cryptography affect Central Bank Digital Currency?
• Authors: Lars Hupel, Makan Rafiee,
• Abstract summary: Central Bank Digital Currency (CBDC) is an emerging trend in digital payments. CBDC wallets are generally protected through cryptographic algorithms that safeguard against double spending and ensure non-repudiation. With the advent of quantum computing, these algorithms are threatened by new attack vectors.
• Score: 0.0
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Central Bank Digital Currency (CBDC) is an emerging trend in digital payments, with the vast majority of central banks around the world researching, piloting, or even operating a digital version of cash. While design choices differ broadly, such as accounts vs. tokens, the wallets are generally protected through cryptographic algorithms that safeguard against double spending and ensure non-repudiation. With the advent of quantum computing, these algorithms are threatened by new attack vectors. To better understand those threats, we conducted a study of typical assets in a CBDC system, describe which ones are most amenable to post-quantum cryptography, and propose an upgrade strategy.

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