Central Bank Digital Currency Data Use and Privacy Protection
Electronic Access:
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Summary:
This note offers a framework to help countries navigate, as well as tools to help them manage, the trade-offs between CBDC data use and privacy protection. It addresses retail CBDC, as data access and privacy-preserving considerations in a wholesale environment are similar to those of the traditional RTGS systems. It emphasizes the role of institutional arrangements, data collection, access and storage policies, design choices, and technological solutions. At a given level of preference for privacy, central banks can facilitate better use of CBDC data through robust transparency and accountability arrangements, sound policies, and judicious adoption of privacy-by-design approaches including the use of privacy-enhancing technologies.
Series:
Fintech Notes No 2024/004
Subject:
Anti-money laundering and combating the financing of terrorism (AML/CFT) Central Bank digital currencies Crime Digital financial services Financial markets Payment systems Technology
Frequency:
occasional
English
Publication Date:
August 30, 2024
ISBN/ISSN:
9798400286971/2664-5912
Stock No:
FTNEA2024004
Format:
Paper
Pages:
51
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