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A Survey of Research on Retail Central Bank Digital Currency
Author:
Mr. John Kiff
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https://orcid.org/0000-0002-0473-0831
,
Jihad Alwazir
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Sonja Davidovic null

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Aquiles Farias null

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Mr. Ashraf Khan
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https://orcid.org/0000-0002-0084-0240
,
Mr. Tanai Khiaonarong
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https://orcid.org/0000-0002-1731-3201
,
Majid Malaika null

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Mr. Hunter K Monroe
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https://orcid.org/0000-0002-7109-3676
,
Nobu Sugimoto null

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Hervé Tourpe null

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Peter Zhou null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2020: Issue 104
Language:
English
Publication Date:
26 Jun 2020
DOI:
https://doi.org/10.5089/9781513547787.001
ISBN:
9781513547787
ISSN:
1018-5941
Pages:
66
Keywords:
WP; CBDC issuance; CBDC arrangement; CBDC holding; cyber-security payment; monetary policy; money; central bank digital currencies; legal tender; payment system; cyber security; user CBDC holding; Currencies; Payment systems; Digital currencies; Legal support in revenue administration; Global; Eastern Europe; Pacific Islands; Caribbean; policy risk; CBDC pilot; CBDC payment system; CBDC transaction; cash currency management function; platform implementation decision; CBDC platform
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal, governance and regulatory perspectives; plus cybersecurity and other risk considerations. This paper makes a contribution to the CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an operational focus and a project management perspective.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund