A Survey of Research on Retail Central Bank Digital Currency

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.

“Wholesale Digital Tokens,” Committee on Payments and Market Infrastructures, Basel: Bank for International Settlements. ----. 2020. "Payment Aspects of Financial Inclusion in the Fintech Era,” Committee on Payments ...