Template-Type: ReDIF-Paper 1.0
Author-Name: Syngjoo Choi
Author-X-Name-First: Syngjoo
Author-X-Name-Last: Choi
Author-Name: Bongseob Kim
Author-X-Name-First: Bongseob
Author-X-Name-Last: Kim
Author-Name: Young-Sik Kim
Author-X-Name-First: Young-Sik
Author-X-Name-Last: Kim
Author-Name: Ohik Kwon
Author-X-Name-First: Ohik
Author-X-Name-Last: Kwon
Title: Central Bank Digital Currency and Privacy: A Randomized Survey Experiment
Abstract: Privacy protection is among the key features to consider in the design of central bank digital currency (CBDC). Using a nationally representative sample of over 3,500 participants, we conduct a randomized online survey experiment to examine how the willingness to use CBDC as a means of payment varies with the degree of privacy protection and information provision on the privacy benefits of using CBDC. We find that both factors significantly increase participants' willingness to use CBDC by up to 60% when purchasing privacy-sensitive products. Our findings provide useful insights regarding the design and the public's adoption of CBDC.
Creation-Date: 2023-11
File-URL: https://www.bis.org/publ/work1147.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/work1147.htm
File-Format: text/html
Number: 1147
Keywords: central bank digital currency (CBDC), privacy, randomized online survey experiment
Classification-JEL: E40, E50, C90
Handle: RePEc:bis:biswps:1147