Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC)
Around 100 central banks currently research or develop their own central bank digital currency (further CBDC). Two projects recently moved into the production phase. The introduction of CBDC by at least one major central bank in the coming years seems unavoidable, which would form a tipping point. C...
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| Materialtyp: | Online |
| Språk: | engelska |
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Taylor & Francis
2023
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| Länkar: | https://library.oapen.org/handle/20.500.12657/76546 |
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| _version_ | 1869518246362742784 |
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| author | Rybski, Robert |
| author_browse | Rybski, Robert |
| author_facet | Rybski, Robert |
| author_sort | Rybski, Robert |
| collection | Directory of Open Access Books |
| description | Around 100 central banks currently research or develop their own central bank digital currency (further CBDC). Two projects recently moved into the production phase. The introduction of CBDC by at least one major central bank in the coming years seems unavoidable, which would form a tipping point. CBDC would then enter the mainstream of the banking sector. This trend requires assessing CBDC projects broader than the central banks do. This chapter considers concerns regarding the introduction of CBDC and its design criteria. Addressing those issues at an early stage allows us to mitigate them. The most obvious concern concerns the central bank money's public security in the era of growing cyber threats. The other evident concern concerns privacy. However, one particular angle of discussions on CBDC does not get enough attention – sustainability. This chapter assesses whether and how current CBDC projects include sustainability, public security, and privacy. It then addresses areas worth further development to increase the implementation of sustainability by the central banks. Finally, this chapter reconstructs a design of CBDC that would be most desired from the perspective of sustainability, public security, and privacy, showing how taking those perspectives into consideration influences social acceptance of CBDC. |
| format | Online |
| id | doab-20.500.12854ir-114194 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | Taylor & Francis |
| publisherStr | Taylor & Francis |
| record_format | ojs |
| spelling | doab-20.500.12854ir-1141942025-03-12T16:00:10Z Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) Rybski, Robert Banking; digital transformation; digitalization; financial institutions; FinTech; innovation and technology management; Insurance; CBDC, sustainability, privacy, central bank, digital currency, FinTech Around 100 central banks currently research or develop their own central bank digital currency (further CBDC). Two projects recently moved into the production phase. The introduction of CBDC by at least one major central bank in the coming years seems unavoidable, which would form a tipping point. CBDC would then enter the mainstream of the banking sector. This trend requires assessing CBDC projects broader than the central banks do. This chapter considers concerns regarding the introduction of CBDC and its design criteria. Addressing those issues at an early stage allows us to mitigate them. The most obvious concern concerns the central bank money's public security in the era of growing cyber threats. The other evident concern concerns privacy. However, one particular angle of discussions on CBDC does not get enough attention – sustainability. This chapter assesses whether and how current CBDC projects include sustainability, public security, and privacy. It then addresses areas worth further development to increase the implementation of sustainability by the central banks. Finally, this chapter reconstructs a design of CBDC that would be most desired from the perspective of sustainability, public security, and privacy, showing how taking those perspectives into consideration influences social acceptance of CBDC. 2023-10-05T04:00:41Z 2023-10-05T04:00:41Z 2023-10-04T11:57:58Z 2024 chapter https://library.oapen.org/handle/20.500.12657/76546 9781032374932 9781032374956 https://directory.doabooks.org/handle/20.500.12854/114194 eng open access image/jpeg image/jpeg image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/76546/1/9781003340454_10.4324_9781003340454-10.pdf https://library.oapen.org/bitstream/20.500.12657/76546/1/9781003340454_10.4324_9781003340454-10.pdf https://library.oapen.org/bitstream/20.500.12657/76546/1/9781003340454_10.4324_9781003340454-10.pdf Taylor & Francis Routledge 10.4324/9781003340454-10 10.4324/9781003340454-10 fa69b019-f4ee-4979-8d42-c6b6c476b5f0 Digital Transformation and the Economics of Banking Uniwersytet Warszawski 21021b3c-7ea5-47b1-9be5-d79cfd273ad4 9781032374932 9781032374956 Routledge 23 open access |
| spellingShingle | Banking; digital transformation; digitalization; financial institutions; FinTech; innovation and technology management; Insurance; CBDC, sustainability, privacy, central bank, digital currency, FinTech Rybski, Robert Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) |
| title | Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) |
| title_full | Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) |
| title_fullStr | Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) |
| title_full_unstemmed | Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) |
| title_short | Chapter 10 Sustainability, Public Security, and Privacy Concerns Regarding Central Bank Digital Currency (CBDC) |
| title_sort | chapter 10 sustainability public security and privacy concerns regarding central bank digital currency cbdc |
| topic | Banking; digital transformation; digitalization; financial institutions; FinTech; innovation and technology management; Insurance; CBDC, sustainability, privacy, central bank, digital currency, FinTech |
| topic_facet | Banking; digital transformation; digitalization; financial institutions; FinTech; innovation and technology management; Insurance; CBDC, sustainability, privacy, central bank, digital currency, FinTech |
| url | https://library.oapen.org/handle/20.500.12657/76546 |
| work_keys_str_mv | AT rybskirobert chapter10sustainabilitypublicsecurityandprivacyconcernsregardingcentralbankdigitalcurrencycbdc |