Digital Euro Association Blog

CBDC Manifesto: Design Recommendations for a retail CBDC

On October 12th, the Digital Euro Association (DEA) and the CBDC Think Tank (CBDC TT) announced the CBDC Manifesto at the CBDC Summit 2022 in Washington D.C. The document was developed by the DEA, the CBDC TT, and world-leading CBDC experts.WhatsApp Image 2022-10-11 at 11.53.53

Given the critical role of CBDC in the payments space and its potential impacts on other parts of the economy, the CBDC Manifesto proposes 5 major CBDC design recommendations, which can be used as a roadmap by central banks to devise an optimal CBDC development plan. Besides the one-page recommendation, there is supporting documentation that explains each guidance in detail.

The 5 CBDC design recommendations are:

1. A CBDC should have a strong value proposition (SVP) and tangible benefits for citizens. To drive adoption, it is not sufficient to offer a new means of payment that has the same features as today’s means of payment.

2. A CBDC should provide the highest degree of privacy. In this context, a CBDC should supply technically guaranteed privacy by design and by default, without the need to trust the central bank to preserve privacy. The CBDC can be utilized, ideally, by anonymous payments for small- and medium-sized transactions.

3. A CBDC should not be designed in a way to do harm to society, e.g., via very negative interest rates, or via so-called programmable money that restricts the use of money for specific types of expenditures (e.g., special food and beverages, computer games, etc.) or that expires after a certain amount of time. A CBDC should be based on principles of self-determination and freedom. 

4. The development of a CBDC should follow a collaborative approach involving all stakeholders (central banks, financial institutions, associations, end-users, companies, researchers, etc.) and have a well-defined governance system. The design and development processes should be transparent, public, and open. Ideally, a CBDC should be open-source and use open-source technology to increase transparency.

5. The CBDC should exhibit technical, regulatory and usage interoperability, both locally and globally.

The CBDC Manifesto is supported by individuals and organizations across the globe, who are in favor of a citizen-centric solution. Please sign the list here if you also want to support this initiative.

Find here the CBDC Manifesto.

Supporters

The people who support this initiative are listed below. If you also want to support this initiative and appear on the following list, please click here. Even after the publication date of this article, it is possible to support this initiative and to be included in the list of supporters below, which is updated regularly:

  • Achim Braunsteffer
  • Dr. Achim E. H. Wolf, Innovation A
  • Adam Retkes, CBDC Think Tank Budapest
  • Adeolu Fadele, Cryptography Development Initiative in Nigeria
  • Dr. Adriana Carotenuto
  • Ajibola Soyoye
  • Akira Sasaki
  • Alex Smith
  • Alexander Gloy, Lighthouse Investment Management
  • Dr. Alexander Rad
  • Prof. Dr. Alfredo Muñoz
  • Alyssa Ong
  • Amnon Samid, BitMint
  • Andre Costa, Free Enterprise Advisors
  • André Kießling
  • Andreas Ebner, GFT Technologies SE
  • Andreas Hartauer
  • Dr. Andreas (Andy) Jobst, Roxe Inc.
  • Animesh Ghosh, KornChain
  • Anthony Smith
  • Antonio Lanotte
  • Antony Welfare
  • Arpit Singh
  • Ashot Bychkov
  • Balaji Natarajan
  • Barbara Baldwin, InnoValue
  • Barbara Cleve
  • Dr. Benedikt Zoller, ZHAW
  • Benjamin Schellinger, Branch Business & Information Systems Engineering of the Fraunhofer FIT
  • Benjamin Schmid, First Coin GmbH
  • Bernardo Stegmaier, Bitpanda
  • Bernhard Kaufmann
  • Bert Bosman, Step Forward Consultancy
  • Binur Zhalenov, PFTDC of the National Bank of Kazakhstan
  • Brian Becerra Rojas, 21MBulls
  • Carmen Calhoun, CC’s Industries LLC
  • Chris Bruppacher, Swiss Stablecoin AG
  • Christian Pfister
  • Cizar Bachir Brahim, SWNGLOBAL- MetaMUI
  • Clark Parsons, Internet Economy Foundation
  • Clemens Behrend
  • Conrad Kraft
  • Daniel Alkan, Severn Consultancy
  • Daniel Dilworth
  • Daniel Holk
  • Daniel Stahl, Cryp2D GmbH
  • Dániel Szegő
  • Dr. David Tercero-Lucas
  • Dercio Frade
  • Prof. Dr. Deyan Radev, Sofia University
  • Diego Montes Serralde
  • Diego Rodríguez, Kyron records
  • Dieter Emmer
  • Dirk Braun
  • Dmitry Ouzkikh
  • Dominik Merz
  • Eron Mamudi
  • Esosa Orhue, E-Warehouse Consulting
  • Eugenio Reggianini
  • Eva Veldhoen
  • F. Altenburg, Ons Geld
  • Felix Bekemeier
  • Fernando L. B. Marques, University of Sao Paulo
  • Dr. Filipe Ferreira
  • Francesco Mazzetti
  • Francis Souza, ACI Worldwide
  • Frédéric Tronnier
  • Gann-Jiun Lin, Aimichia Technology., CO., LTD.
  • Georg Lanzinger
  • Dr. Gerald Hessenberger
  • Gerrit Van Malkenhorst, Stichting Ons Geld (Our Money Foundation)
  • Dr. Gianluca D'Imperio
  • Gonzalo Davalos, 21MBulls
  • Gourav Roy, BCG
  • Gurinder Dua
  • Hamit Boyraz, Finwise Consulting
  • Hamza Mohammed Ali
  • Prof. Dr. Horst Treiblmaier
  • Ian Gerstgrasser, DERA
  • Dr. Ivan Homoliak, Faculty of Information Technology, Brno University of Technology
  • Iván Manso Arenal, Accenture
  • J.P. Nolan
  • Jafar Mussaid, Nuqud
  • Jan Spörer
  • Jannah Patchay
  • Jaskaran Singh
  • Dr. Javier Jorge Vázquez, Catholic University of Ávila
  • Jeremi Van den Berghe
  • Johan Zijlstra
  • Johannes Sedlmeir
  • John Kiff, CBDC Think Tank
  • Dr. Jonas Gross
  • José Zárate, Stamping.io
  • Kamlesh Nagware
  • Katarina Mattmuller
  • Khang Vu Tien
  • Dr. Kimmo Soramaki, FNA
  • Dr. Kombe Kaponda, Bank of Zambia
  • Lena Grale
  • Lennart Schuldt
  • Luitpold Deutzer
  • Lukas Kress
  • Luki Song, FirstBank
  • Mahmoud Jawwad, Nova Blockchain Club
  • Makis Malioris
  • Marcel Knobloch
  • Mariano Camere Echevarría, 21MBulls
  • Dr. Mark Yama Tampuri Jnr
  • Dr. Martijn van der Linden, The Hague University of Applied Sciences
  • Martin Debusmann
  • Melvina Markmann
  • Dr. Michael Gebert,  European Blockchain Association
  • Mickaël Gaborit, Blooo
  • Nadine Kanaan
  • Navin Oswal
  • Neo Lin, Qianyuhui International Environmental Investment
  • Neslihan Ozkan
  • Dr. Nicola Davolio, Hupry
  • Nirinasoa Rajaona
  • Oliver Naegele
  • Omar Kerschbamer
  • Pallavi Thakur
  • Pascal Kaiser
  • Patricia Suárez, ASUFIN
  • Paul McOlaka
  • Dr. Peter Dittus
  • Dr. Peter Slivka, Zota Payment Technologies AG
  • Phil Haunhorst, Obius
  • Philipp Misura
  • Prof. Dr. Philipp Sandner, Frankfurt School Blockchain Center
  • Pier Mario Lupinu
  • Prakash Neupane, Exploreby Technology
  • Rajib Ghosh, KornChain Limited
  • Raphael Sperling, Tax Sparrow
  • Richard Turrin
  • Richard Weals, Learn Trade Transform Ltd
  • Rick Clephas
  • Ridwan Badmus
  • Dr. Ritesh Jain, Infynit / Former COO HSBC
  • Roberto Wächtler
  • Rungrot Tatiyawongwiwat
  • Dr. Samuel De Gannes, De Gannes Technolgies Inc.
  • Sarah Palurovic
  • Sascha Braband
  • Sathyanarayanan Sridharan
  • Selin Sezer
  • Prof. Dr. Sergio Luis Náñez Alonso, Dekis Research Group
  • Sheilla Olga, INATBA
  • Simon Soppart
  • Sophie Aurelly Ngouakang Tchinda, Tchinsop law firm, Douala-Cameroon
  • Srikanth Tanniru
  • Stavros Goulas
  • Stephan Dreyer
  • Dr. Stephan Simon
  • Sunny Jiang, MaasValley
  • Dr. Talha Ocal
  • Tamara Ferreira Schmidt
  • Tan Gürpinar, Blockchain Europe
  • Tatiana Matersheva-Indlekofer
  • Tilemachos Angelitsas, Omnis Engineering Services PC
  • Tom Dapp, KfW Digital Office
  • Tomasz Wawron
  • Tomaž Fleischman
  • Tommy Cooksey
  • Ubasinachi Nkume, Clplegal
  • Valentin Seehausen, Open Currency Technology
  • Valeria Aragonés Díaz
  • Vid Hribar, RBI AG
  • Vidyashankar Ramalingam
  • Vito Domizio
  • Xavier Lavayssière, ECAN
  • Zvinodashe Mupambirei
Do you think your name should appear here?

These are the supporters up until 2022–12–05 09:12 CET. Do you agree with these recommendations and do you want to support this initiative? Then, please click here.

 

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