Abstract
With spurring digital innovation across institutions, the central bank is exploring a digital version of fiat money, the CBDC. Since multiple payment systems already exist, the necessity of CBDC is being questioned. This debate necessitates the need to investigate the values central banks intend to operationalise by issuing CBDC. The purpose of this paper is to identify the primary motivational goals for issuing CBDC and link these to the design requirements using Value Sensitive Design lens. Based on 16 experts’ interviews and 468 publicly available speeches, we present conceptual framework that includes central values for issuing CBDC, the functional features required to be embedded in the design leading to the decision for its exploration. Our balanced view of values for CBDC issuance, complements dystopian concerns raised by experts offering an unbiased perspective. We contribute to digital currency literature and offer central banks guidance in shaping their design configurations.
Recommended Citation
Gupta, Khusboo; Kar, Arpan Kumar; and Gupta, Manmohan Prasad, "Exploring the need for Central Bank Digital Currency: Value
Sensitive Design Approach" (2025). ACIS 2025 Proceedings. 57.
https://aisel.aisnet.org/acis2025/57