The privacy and anonymity of transactions are considered some of the biggest challenges when designing Central Bank Digital Currencies (CBDC). While many surveys show that people strongly prefer privacy in their transactions, behavioral theories suggest that human behaviour in digital spaces is...

As digital payments become increasingly popular, many central banks are looking into the issuance of retail central bank digital currency (CBDC) as a new central bank monetary liability in addition to banknotes and commercial bank reserves. CBDC will have broadly the same balance sheet and...