Balancing Transparency and Privacy in Central Bank Digital Currencies (CBDCs): Legal Implications and Challenges

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Author(s): Aneta Napieralska (University Humanitas, Poland)and Przemysław Kępczyński (University Humanitas, Poland)
Copyright: 2024
Pages: 16
Source title: Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges
Source Author(s)/Editor(s): Guneet Kaur (University of Stirling, UK), Pooja Lekhi (University Canada West, Canada)and Simriti Popli (Kaplan International College, UK)
DOI: 10.4018/979-8-3693-1882-9.ch013

Keywords: Accounting and Finance / Business & Management / Business Science Reference / E-Commerce

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Abstract

This study elucidates the intersection of privacy and central bank digital currencies (CBDCs), employing Solove's pragmatic approach and Nissenbaum's theory of contextual integrity to dissect privacy within various CBDC frameworks. It articulates three foundational principles for privacy-centric CBDC design: legal acknowledgment of privacy rights, embedding privacy by design, and prioritizing user-centricity. This analysis not only deepens the understanding of privacy in the digital currency domain but also proposes a legal and technical blueprint for central banks aspiring to develop CBDCs that respect and protect user privacy.

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Balancing Transparency and Privacy in Central Bank Digital Currencies (CBDCs): Legal Implications and Challenges

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