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Blockchain technology has spawned a vast ecosystem of digital currencies with Central Bank Digital Currencies (CBDCs) -- digital forms of fiat currency -- being one of them. An important feature of digital currencies is facilitating…

The European Central Bank is preparing for the potential issuance of a central bank digital currency (CBDC), called the digital euro. A recent regulatory proposal by the European Commission defines several requirements for the digital euro,…

Central Bank Digital Currency (CBDCs) are becoming a new digital financial tool aimed at financial inclusion, increased monetary stability, and improved efficiency of payment systems, as they are issued by central banks. One of the most…

Central Bank Digital Currency (CBDC) is a new form of money, issued by a country's or region's central bank, that can be used for a variety of payment scenarios. Depending on its concrete implementation, there are many participants in a…

In this work, fundamental design principles for a central bank digital currency (CBDC) with an offline functionality and corresponding counter measures are discussed. We identify three major objectives for any such CBDC proposal:(i) Access…

Information and communication technologies are by now employed in most human activities, including economics and finance. Modern computers have reached an extraordinary power in terms of information processing, storage, retrieval, and…

The use of digital money has become increasingly popular, but it comes with certain drawbacks. For instance, it can be challenging to make payments during power outages or internet failures. Additionally, some groups may find it difficult…

Central Bank Digital Currencies (CBDCs) have been implemented by only a handful of countries, but they are being explored by many more. CBDCs are digital currencies issued and backed by a central bank. Consumer trust can encourage or…

Central Bank Digital Currency (CBDC) can be defined as a virtual currency based on node network and digital encryption algorithm issued by a country which has a legal credit protection. CBDCs are supported by Distributed Ledger Technologies…

The current crisis, at the time of writing, has had a profound impact on the financial world, introducing the need for creative approaches to revitalising the economy at the micro level as well as the macro level. In this informal analysis…

Current digital payment solutions are fragile and offer less privacy than traditional cash. Their critical dependency on an online service used to perform and validate transactions makes them void if this service is unreachable. Moreover,…

Central Bank Digital Currencies (CBDCs) are proposed as a public response to the uptake of privately run digital payments, with the digital euro, under development by the European Central Bank (ECB), serving as a prominent example. This…

With the advancement of digital payment technologies, central banks worldwide have increasingly begun to explore the implementation of Central Bank Digital Currencies (CBDCs). This paper presents a comprehensive review of the latest…

Central Bank Digital Currency (CBDC) is an emerging trend in digital payments, with the vast majority of central banks around the world researching, piloting, or even operating a digital version of cash. While design choices differ broadly,…

Central Bank Digital Currency (CBDC) is a novel form of money that could be issued and regulated by central banks, offering benefits such as programmability, security, and privacy. However, the design of a CBDC system presents numerous…

A major drawback in deploying central bank digital currencies (CDBC) is the offline puzzle, which requires that a CBDC must keep the provision given by cash, and, simultaneously, avoid double-spending, counterfeiting, and other issues. The…

Digital signatures are crucial for securing Central Bank Digital Currencies (CBDCs) transactions. Like most forms of digital currencies, CBDC solutions rely on signatures for transaction authenticity and integrity, leading to major issues…

With the emergence of Bitcoin and recently proposed stablecoins from BigTechs, such as Diem (formerly Libra), central banks face growing competition from private actors offering their own digital alternative to physical cash. We do not…

Crypto-assets and central bank digital currencies (CBDCs) are reshaping how value is exchanged in distributed computing environments. These systems combine cryptographic primitives, protocol design, and system architectures to provide…

Central banks are actively exploring retail central bank digital currencies (CBDCs), with the Bank of England currently in the design phase for a potential UK retail CBDC, the digital pound. In a previous paper, we defined and explored the…