Central Bank Digital Currency Privacy
Quick Take
- A common misconception about central bank digital currencies (CBDCs) is that privacy can’t exist while transacting, which makes many citizens anxious about general-purpose or retail CBDC.
- Through the EUROchain research network, the European System of Central Banks (ESCB) developed a proof of concept using anonymity vouchers to enable privacy for certain retail CBDC transactions in 2019.
- More recently, two McGill University researchers submitted a novel design proposal for a ‘Privacy-Hybrid CBDC’ to the Bank of Canada’s Model X Challenge.
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Author: Mike Rogers
