The six ways to build trust and reduce privacy concern in a Central Bank Digital Currency (CBDC)

• URL: http://arxiv.org/abs/2312.17708v1
• Date: Fri, 29 Dec 2023 17:52:13 GMT
• Title: The six ways to build trust and reduce privacy concern in a Central Bank Digital Currency (CBDC)
• Authors: Alex Zarifis and Xusen Cheng
• Abstract summary: Central Bank Digital Currencies (CBDCs) have been implemented by only a handful of countries. 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.
• Score: 0.0
• License: http://creativecommons.org/licenses/by/4.0/
• 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.

Related papers

• IT Strategic alignment in the decentralized finance (DeFi): CBDC and digital currencies [49.1574468325115]
  Decentralized finance (DeFi) is a disruptive-based financial infrastructure. This paper seeks to answer two main questions 1) What are the common IT elements in the DeFi? And 2) How the elements to the IT strategic alignment in DeFi?
  arXiv  Detail & Related papers  (2024-05-17T10:19:20Z)
• Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
  Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy. This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
  arXiv  Detail & Related papers  (2024-03-28T07:08:26Z)
• Retail Central Bank Digital Currency: Motivations, Opportunities, and Mistakes [2.9357919636083256]
  Nations around the world are conducting research into the design of central bank digital currency (CBDC) CBDC would be issued by central banks alongside cash and central bank reserves. CBDC would be used by individuals and businesses as form of money suitable for routine commerce.
  arXiv  Detail & Related papers  (2024-03-11T18:02:06Z)
• How does post-quantum cryptography affect Central Bank Digital Currency? [0.0]
  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.
  arXiv  Detail & Related papers  (2023-08-30T06:44:20Z)
• An Illustrative Industry Architecture to Mitigate Potential Fragmentation across Central Bank Digital Currency and Commercial Bank Money [0.0]
  We present an illustrative industry architecture which places CBDCs and commercial bank money on a similar footing. We focus on a potential United Kingdom (UK) CBDC, including industry ecosystems interfacing with commercial banks using Open Banking application programming interfaces (APIs)
  arXiv  Detail & Related papers  (2022-03-31T13:20:47Z)
• Feature-Level Fusion of Super-App and Telecommunication Alternative Data Sources for Credit Card Fraud Detection [106.33204064461802]
  We review the effectiveness of a feature-level fusion of super-app customer information, mobile phone line data, and traditional credit risk variables for the early detection of identity theft credit card fraud. We evaluate our approach over approximately 90,000 users from a credit lender's digital platform database.
  arXiv  Detail & Related papers  (2021-11-05T19:10:35Z)
• The Development of Central Bank Digital Currency in China: An Analysis [0.0]
  The People's Bank of China (PBOC) has launched an ambitious project to develop a digital currency for use in domestic, retail transactions. The architecture must accommodate privacy-preserving, non-custodial wallets. China has an opportunity to lead the world in the implementation of a central bank digital currency (CBDC) solution.
  arXiv  Detail & Related papers  (2021-08-12T19:54:32Z)
• Data-driven analysis of central bank digital currency (CBDC) projects drivers [0.0]
  We use a variety of machine learning methods to quantify the extent to which economic and technological factors are predictive of the progression of Central Bank Digital Currencies (CBDC) We find that a financial development index is the most important feature for our model, followed by the GDP per capita and an index of the voice and accountability of the country's population.
  arXiv  Detail & Related papers  (2021-02-23T17:15:56Z)
• Efficiency in Digital Economies -- A Primer on Tokenomics [55.41644538483948]
  cryptographic tokens are a new digital paradigm that can facilitate the establishment of economic incentives in digital ecoystems. We show how certain principles and values that arise from the evolutionary process of digital cooperation can lead to a market economy characterized by economic efficiency of both individuals and the tokenized ecosystem as a whole.
  arXiv  Detail & Related papers  (2020-08-06T09:31:56Z)
• Regulation conform DLT-operable payment adapter based on trustless - justified trust combined generalized state channels [77.34726150561087]
  Economy of Things (EoT) will be based on software agents running on peer-to-peer trustless networks. We give an overview of current solutions that differ in their fundamental values and technological possibilities. We propose to combine the strengths of the crypto based, decentralized trustless elements with established and well regulated means of payment.
  arXiv  Detail & Related papers  (2020-07-03T10:45:55Z)
• Super-App Behavioral Patterns in Credit Risk Models: Financial, Statistical and Regulatory Implications [110.54266632357673]
  We present the impact of alternative data that originates from an app-based marketplace, in contrast to traditional bureau data, upon credit scoring models. Our results, validated across two countries, show that these new sources of data are particularly useful for predicting financial behavior in low-wealth and young individuals.
  arXiv  Detail & Related papers  (2020-05-09T01:32:03Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.