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What can CBDC designers learn from asking potential users? Results from a survey of Austrian residents (Svetlana Abramova, Rainer Böhme, Helmut Elsinger, Helmut Stix, Martin Summer)

Svetlana Abramova (), Rainer Böhme (), Helmut Elsinger (), Helmut Stix () and Martin Summer ()
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Helmut Elsinger: Oesterreichische Nationalbank, Economic Studies Division
Martin Summer: Oesterreichische Nationalbank, Economic Studies Division

Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)

Abstract: The ongoing initiatives to offer central bank money to consumers in the form of retail central bank digital currency (CBDC) have triggered discussions on its optimal design. So far, the perspective of potential users has not been considered widely. To strengthen this perspective, we survey 2006 Austrian residents using a tailored questionnaire on payment preferences, attitudes towards a digital euro, selected technical features as well as potential security and privacy concerns. We find that the respondents are satisfied with the existing payment options. Only about half of the surveyed express at least some interest in a digital euro. About one half of those expects personal advantages. Central banks are advised to embrace a more user-centric design of CBDC, which must include communicating the key concepts and benefits to the potential users.

Keywords: central bank digital currencies; central bank money; retail payments (search for similar items in EconPapers)
JEL-codes: D14 E42 E51 E52 (search for similar items in EconPapers)
Pages: 40
Date: 2022-07-05
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