Search: CBDC
RBA Glossary definition for CBDC
CBDC – Central Bank digital currency - used to refer to a digital version of fiat currency, a form of digital money that is a liability of the central bank rather than a commercial bank and which is legal tender. Similar to cash and commercial bank deposits, a CBDC would be denominated in the sovereign currency and convertible at par with other forms of money.
Search Results
Valuing Safety and Privacy in Retail Central Bank Digital Currency
11 Apr 2024
RDP
2024-02
The results suggest that the average consumer attaches no value to the added safety of a CBDC. ... Privacy settings of a CBDC, which can take various forms, look more consequential for the CBDC value proposition.
https://www.rba.gov.au/publications/rdp/2024/2024-02.html
Valuing Safety and Privacy in Retail Central Bank Digital Currency
11 Apr 2024
RDP
2024-02
They too use a discrete choice experiment to examine valuations of CBDC characteristics. ... the distribution of CBDC (Richards et al (2020), with Jones (2022) repeating this sentiment).
https://www.rba.gov.au/publications/rdp/2024/2024-02/full.html
Main Results
11 Apr 2024
RDP
2024-02
It does not tell us how much Australians value the option of having an RBA account, which is also a relevant policy question when assessing the case for CBDC. ... Privacy settings for CBDC look to be more consequential for uptake than any incremental
https://www.rba.gov.au/publications/rdp/2024/2024-02/main-results.html
Introduction
11 Apr 2024
RDP
2024-02
A second key feature of our work is its focus on CBDC attitudes of Australians. ... They too use a discrete choice experiment to examine valuations of CBDC characteristics.
https://www.rba.gov.au/publications/rdp/2024/2024-02/introduction.html
Non-technical summary for ‘Valuing Safety and Privacy in Retail Central Bank Digital Currency’
11 Apr 2024
RDP
2024-02
A retail CBDC is, for the most part, a digital version of cash. ... How much would consumers value the potential privacy characteristics of a retail CBDC?
https://www.rba.gov.au/publications/rdp/2024/2024-02/non-technical-summary.html
Summary and Discussion
11 Apr 2024
RDP
2024-02
Privacy settings for a retail CBDC – though it is not yet clear what they would be in practice – look more consequential. ... the distribution of CBDC (Richards et al (2020), with Jones (2022) repeating this sentiment).
https://www.rba.gov.au/publications/rdp/2024/2024-02/summary-and-discussion.html
References
11 Apr 2024
RDP
2024-02
Bijlsma M, C van der Cruijsen, N Jonker and J Reijerink (2021), ‘What Triggers Consumer Adoption of CBDC?’, De Nederlandsche Bank Working Paper No 709. ... Choi S, B Kim, YS Kim, O Kwon and S Park (2023), ‘Predicting the Payment Preference for CBDC:
https://www.rba.gov.au/publications/rdp/2024/2024-02/references.html
Survey Question for the Discrete Choice Experiment
11 Apr 2024
RDP
2024-02
For this reason, we avoid the term CBDC altogether, instead relying on more accessible analogies with bank accounts. ... Our privacy options do not capture the complete set of possibilities for retail CBDC either.
https://www.rba.gov.au/publications/rdp/2024/2024-02/survey-question-for-the-discrete-choice-experiment.html