Balancing privacy and data use: The potential impact of large online platforms and central bank digital currencies

Yuji Maruo and Sei Sugino
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Yuji Maruo: Deputy Head of Policy Planning Division, Bank of Japan
Sei Sugino: Economist, Bank of Japan

Journal of Payments Strategy & Systems, 2023, vol. 17, issue 2, 142-150

Abstract: This paper reviews the international discussion among academics and policy makers regarding the trade-off between privacy protection and data use. In particular, it is intended to shed light on the mechanism behind the data monopoly enjoyed by the large online platform companies. The paper also discusses how central bank digital currencies can reduce the potential side effects of this data monopoly.

Keywords: privacy protection; data monopoly; central bank digital currency (CBDC); negative externality (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2023:v:17:i:2:p:142-150

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