A non-custodial wallet for digital currency: Design challenges and opportunities

Gabriel R. Bizama, Geoffrey Goodell, Chris Speed, Joe Revans and Ryan David Bowler
Additional contact information
Gabriel R. Bizama: University of Bern, Switzerland
Geoffrey Goodell: Department of Computer Science, UK
Chris Speed: RMIT University, Australia
Joe Revans: Fallow Earth, UK
Ryan David Bowler: Scottish Government, UK

Journal of Payments Strategy & Systems, 2025, vol. 19, issue 3, 247-265

Abstract: Digital currency is a novel form of money that could be issued and regulated by central banks or other actors, offering benefits such as programmability, security and privacy. However, the design of a digital currency system, including but not limited to central bank digital currency, presents numerous technical and social challenges. This paper presents the design and prototype of a non-custodial wallet; a device that enables users to store and spend digital currency in various contexts. To address the challenges of designing a digital currency system, we conducted a series of workshops with internal and external stakeholders, using methods such as storytelling, metaphors and ‘provotypes’ to communicate digital currency concepts, elicit user feedback and incorporate normative values into the technical design. We derived basic guidelines for designing digital currency systems that balance technical and social aspects and reflect user needs and values. Our work contributes to the digital currency discourse by demonstrating a practical example of how digital currency could be used in everyday life and by highlighting the importance of a user-centred approach. This article is also included in the Business & Management Collection which can be accessed at http://hstalks/business.

Keywords: payments; digital currencies; non-custodial wallet; design models (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://hstalks.com/article/10214/download/ (application/pdf)
https://hstalks.com/article/10214/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2025:v:19:i:3:p:247-265

Access Statistics for this article

More articles in Journal of Payments Strategy & Systems from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().