PACIS 2020 Proceedings


In countries like Sweden and Uruguay, the introduction of a Central Bank Digital Currency (CBDC) – a digital form of legal tender – is already being discussed and piloted. Additionally, central banks worldwide are investigating CBDC. This paper evaluates research from the major central banks and the scientific community regarding CBDC. The focus hereby is on providing a comprehensive view on the topic by introducing, combining and discussing various research fragments. For this purpose, relevant research and publications are identified via a systematic literature review and classified into different groups. We find that research on CBDC is still at an early stage in both academia and within central banks, providing several areas of future research. Motivations and rationales for issuing a CBDC as well as possible design opportunities and potential properties of a CBDC are presented. Furthermore, the analysis is extended to include economic aspects, implications for monetary policy and legal issues.



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