Skip to main content

2024 | OriginalPaper | Buchkapitel

Blockchain-Based Central Bank Digital Currencies: A Comprehensive Survey

verfasst von : Shuo Chen, Zhiwei Liu, Xiang Xu, Haoyu Gao, Hong Lei, Chao Liu

Erschienen in: Proceedings of the 13th International Conference on Computer Engineering and Networks

Verlag: Springer Nature Singapore

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

In this information age, real currency is transitioning to digital currency. Blockchain technology has introduced smart contracts and distributed ledger technology, leading to new research directions in various fields including finance, the Internet of Things, and energy. Central Bank Digital Currency (CBDC) based on blockchain has been incorporated into the technical choices of central banks in various countries. This paper examines the current research and implementation of central bank digital currency by various central banks worldwide. It provides an overview of CBDC's definition, operational status, and technical characteristics. Additionally, this paper highlights the challenges and issues associated with CBDC systems in the current environment. These problems include security issues, performance issues, privacy protection issues, and legal issues. In this regard, some literature has proposed solutions, which are analyzed and summarized in this paper. We classify and summarize the existing problems and propose effective solutions, including using fragmentation technology to increase transaction throughput and implementing corresponding regulatory measures to strengthen supervision.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Literatur
1.
Zurück zum Zitat Duffie, D.: Building a stronger financial system: opportunities for a digital dollar. In: Central Bank Digital Currency Considerations, Projects, Outlook (2021) Duffie, D.: Building a stronger financial system: opportunities for a digital dollar. In: Central Bank Digital Currency Considerations, Projects, Outlook (2021)
3.
Zurück zum Zitat Ozili, P.K.: Central bank digital currency research around the world: a review of the literature. J. Money Launder. Control 26(2), 215–226 (2023)CrossRef Ozili, P.K.: Central bank digital currency research around the world: a review of the literature. J. Money Launder. Control 26(2), 215–226 (2023)CrossRef
4.
Zurück zum Zitat Li, J., Yuan, Y., Wang, F.: The development status and prospect of digital currency based on blockchain. Autom. Sin. (JAS) 47(4), 715–729 (2021) Li, J., Yuan, Y., Wang, F.: The development status and prospect of digital currency based on blockchain. Autom. Sin. (JAS) 47(4), 715–729 (2021)
5.
Zurück zum Zitat Kiff, J., et al.: A survey of research on retail central bank digital currency (2020) Kiff, J., et al.: A survey of research on retail central bank digital currency (2020)
6.
Zurück zum Zitat Opare, E.A., Kim, K.: Design practices for wholesale central bank digital currencies from the world. In: Symposium on Cryptography and Information Security, Japan (2020) Opare, E.A., Kim, K.: Design practices for wholesale central bank digital currencies from the world. In: Symposium on Cryptography and Information Security, Japan (2020)
8.
Zurück zum Zitat Javarone, M.A., Wright, C.S.: From Bitcoin to Bitcoin cash: a network analysis. In: 1st Workshop Proceedings on Cryptocurrencies and Blockchains for Distributed Systems, pp. 77–81 (2018) Javarone, M.A., Wright, C.S.: From Bitcoin to Bitcoin cash: a network analysis. In: 1st Workshop Proceedings on Cryptocurrencies and Blockchains for Distributed Systems, pp. 77–81 (2018)
9.
Zurück zum Zitat Tschorsch, F., Scheuermann, B.: Bitcoin and beyond: a technical survey on decentralized digital currencies. IEEE Commun. Surv. Tutor. 18(3), 2084–2123 (2016)CrossRef Tschorsch, F., Scheuermann, B.: Bitcoin and beyond: a technical survey on decentralized digital currencies. IEEE Commun. Surv. Tutor. 18(3), 2084–2123 (2016)CrossRef
11.
Zurück zum Zitat Nagayama, R., Banno, R., Shudo, K.: Trail: An architecture for compact UTXO-based blockchain and smart contract. IEICE Trans. Inf. Syst. 105(2), 333–343 (2022)CrossRef Nagayama, R., Banno, R., Shudo, K.: Trail: An architecture for compact UTXO-based blockchain and smart contract. IEICE Trans. Inf. Syst. 105(2), 333–343 (2022)CrossRef
12.
Zurück zum Zitat Li, D., Wong, W.E., Pan, S., et al.: Design principles and best practices of central bank digital currency. Int. J. Perform. Engin. 17(5), 411 (2021)CrossRef Li, D., Wong, W.E., Pan, S., et al.: Design principles and best practices of central bank digital currency. Int. J. Perform. Engin. 17(5), 411 (2021)CrossRef
13.
Zurück zum Zitat Yao, Q.: A systematic framework to understand central bank digital currency. Sci. China Inf. Sci. 61, 1–8 (2018) Yao, Q.: A systematic framework to understand central bank digital currency. Sci. China Inf. Sci. 61, 1–8 (2018)
14.
Zurück zum Zitat Zhang, T., Huang, Z.: Blockchain and central bank digital currency. ICT Express 8(2), 264–270 (2022)CrossRef Zhang, T., Huang, Z.: Blockchain and central bank digital currency. ICT Express 8(2), 264–270 (2022)CrossRef
15.
Zurück zum Zitat Soltani, R., Zaman, M., Joshi, R., et al.: Distributed ledger technologies and their applications: a review. Appl. Sci. 12(15), 7898 (2022)CrossRef Soltani, R., Zaman, M., Joshi, R., et al.: Distributed ledger technologies and their applications: a review. Appl. Sci. 12(15), 7898 (2022)CrossRef
16.
Zurück zum Zitat Opare, E.A., Kim, K.: A compendium of practices for central bank digital currencies for multinational financial infrastructures. IEEE Access 8, 110810–110847 (2020)CrossRef Opare, E.A., Kim, K.: A compendium of practices for central bank digital currencies for multinational financial infrastructures. IEEE Access 8, 110810–110847 (2020)CrossRef
17.
Zurück zum Zitat Bhattacharya, D.: Digital Yuan (e-CNY): China’s official digital currency. Strat. Anal. 46(1), 93–99 (2022) Bhattacharya, D.: Digital Yuan (e-CNY): China’s official digital currency. Strat. Anal. 46(1), 93–99 (2022)
18.
Zurück zum Zitat Auer, R., Frost, J., Gambacorta, L., et al.: Central bank digital currencies: motives, economic implications, and the research frontier. Ann. Rev. Econ. 14, 697–721 (2022)CrossRef Auer, R., Frost, J., Gambacorta, L., et al.: Central bank digital currencies: motives, economic implications, and the research frontier. Ann. Rev. Econ. 14, 697–721 (2022)CrossRef
19.
Zurück zum Zitat Ometov, A., Bezzateev, S., Mäkitalo, N., et al.: Multi-factor authentication: a survey. Cryptography 2(1), 1 (2018) Ometov, A., Bezzateev, S., Mäkitalo, N., et al.: Multi-factor authentication: a survey. Cryptography 2(1), 1 (2018)
20.
Zurück zum Zitat Bouchaud, M., Lyons, T., Saint Olive, M., et al.: Central banks and the future of digital money. ConsenSys AG Whitepaper 01–20 (2020) Bouchaud, M., Lyons, T., Saint Olive, M., et al.: Central banks and the future of digital money. ConsenSys AG Whitepaper 01–20 (2020)
21.
Zurück zum Zitat Söderberg, G.: The e-krona–Now and for the future. Sveriges Riksbank Econ. Comment. (8) (2019) Söderberg, G.: The e-krona–Now and for the future. Sveriges Riksbank Econ. Comment. (8) (2019)
23.
Zurück zum Zitat Blakstad, S., Allen, R., Blakstad, S., et al.: Central bank digital currencies and cryptocurrencies. In: FinTech Revolution: Universal Inclusion in the New Financial Ecosystem, pp. 87–112 (2018) Blakstad, S., Allen, R., Blakstad, S., et al.: Central bank digital currencies and cryptocurrencies. In: FinTech Revolution: Universal Inclusion in the New Financial Ecosystem, pp. 87–112 (2018)
24.
Zurück zum Zitat Shirai, S.: Money and Central Bank Digital Currency (2019) Shirai, S.: Money and Central Bank Digital Currency (2019)
25.
Zurück zum Zitat Zohar, A.: Bitcoin: under the hood. Commun. ACM 58(9), 104–113 (2015)CrossRef Zohar, A.: Bitcoin: under the hood. Commun. ACM 58(9), 104–113 (2015)CrossRef
26.
Zurück zum Zitat Jung, H., Jeong, D.: Blockchain implementation method for interoperability between CBDCs. Future Internet 13(5), 133 (2021)CrossRef Jung, H., Jeong, D.: Blockchain implementation method for interoperability between CBDCs. Future Internet 13(5), 133 (2021)CrossRef
27.
Zurück zum Zitat Kumar, S.: Permission blockchain network based central bank digital currency. In: 2021 IEEE 4th International Conference on Computing, pp. 1–6 (2021) Kumar, S.: Permission blockchain network based central bank digital currency. In: 2021 IEEE 4th International Conference on Computing, pp. 1–6 (2021)
28.
Zurück zum Zitat Han, X., Yuan, Y., Wang, F.Y.: A blockchain-based framework for central bank digital currency. In: 2019 IEEE International Conference on Service Operations and Logistics, and Informatics (SOLI), pp. 263–268 (2019) Han, X., Yuan, Y., Wang, F.Y.: A blockchain-based framework for central bank digital currency. In: 2019 IEEE International Conference on Service Operations and Logistics, and Informatics (SOLI), pp. 263–268 (2019)
29.
Zurück zum Zitat Han, J.: Cos-CBDC.: Design and Implementation of CBDC on cosmos blockchain. In: 2021 22nd Asia-Pacific Network Operations and Management Symposium (APNOMS), pp. 303–308 (2021) Han, J.: Cos-CBDC.: Design and Implementation of CBDC on cosmos blockchain. In: 2021 22nd Asia-Pacific Network Operations and Management Symposium (APNOMS), pp. 303–308 (2021)
30.
Zurück zum Zitat Zhang, J., Tian, R., Cao, Y., et al.: A hybrid model for central bank digital currency based on blockchain. IEEE Access 9, 53589–53601 (2021)CrossRef Zhang, J., Tian, R., Cao, Y., et al.: A hybrid model for central bank digital currency based on blockchain. IEEE Access 9, 53589–53601 (2021)CrossRef
31.
Zurück zum Zitat Jabbar, A., Geebren, A., Hussain, Z., et al.: Investigating individual privacy within CBDC: a privacy calculus perspective. Res. Int. Bus. Financ. 64, 101826 (2023)CrossRef Jabbar, A., Geebren, A., Hussain, Z., et al.: Investigating individual privacy within CBDC: a privacy calculus perspective. Res. Int. Bus. Financ. 64, 101826 (2023)CrossRef
32.
Zurück zum Zitat Cao, Y., Zhang, J., Yuan, X., et al.: A hybrid blockchain system based on parallel distributed architecture for central bank digital currency. In: International Conference on Fuzzy Systems and Data Mining, pp. 1138–1145 (2019) Cao, Y., Zhang, J., Yuan, X., et al.: A hybrid blockchain system based on parallel distributed architecture for central bank digital currency. In: International Conference on Fuzzy Systems and Data Mining, pp. 1138–1145 (2019)
33.
Zurück zum Zitat King, S., Ppcoin, N.S.: Peer-to-peer crypto-currency with proof-of-stake. Self-Publish. Paper 19(1) (2012) King, S., Ppcoin, N.S.: Peer-to-peer crypto-currency with proof-of-stake. Self-Publish. Paper 19(1) (2012)
34.
Zurück zum Zitat Sundareswaran, N., Sasirekha, S., Paul, I.J.L., et al.: Optimised KYC blockchain system. In: 2020 International Conference on Innovative Trends in Information Technology (ICITIIT), pp. 1–6 (2020) Sundareswaran, N., Sasirekha, S., Paul, I.J.L., et al.: Optimised KYC blockchain system. In: 2020 International Conference on Innovative Trends in Information Technology (ICITIIT), pp. 1–6 (2020)
35.
Zurück zum Zitat Lee, Y.: A survey on security and privacy in blockchain-based Central Bank Digital Currencies. J. Internet Serv. Inf. Secur. 11(3), 16–29 (2021) Lee, Y.: A survey on security and privacy in blockchain-based Central Bank Digital Currencies. J. Internet Serv. Inf. Secur. 11(3), 16–29 (2021)
36.
Zurück zum Zitat Hong, Z., Guo, S., Li, P.: Scaling blockchain via layered sharding. IEEE J. Sel. Areas Commun. 40(12), 3575–3588 (2022)CrossRef Hong, Z., Guo, S., Li, P.: Scaling blockchain via layered sharding. IEEE J. Sel. Areas Commun. 40(12), 3575–3588 (2022)CrossRef
37.
Zurück zum Zitat Barrdear, J., Kumhof, M.: The macroeconomics of central bank digital currencies. J. Econ. Dyn. Control 142, 104148 (2022) Barrdear, J., Kumhof, M.: The macroeconomics of central bank digital currencies. J. Econ. Dyn. Control 142, 104148 (2022)
38.
Zurück zum Zitat Nabilou, H.: Testing the waters of the Rubicon: the European central bank and central bank digital currencies. J. Bank. Regul. 21, 299–314 (2020)CrossRef Nabilou, H.: Testing the waters of the Rubicon: the European central bank and central bank digital currencies. J. Bank. Regul. 21, 299–314 (2020)CrossRef
39.
Zurück zum Zitat Belke, A., Beretta, E.: From cash to central bank digital currencies and cryptocurrencies: a balancing act between modernity and monetary stability. J. Econ. Stud. 47(4), 911–938 (2020)CrossRef Belke, A., Beretta, E.: From cash to central bank digital currencies and cryptocurrencies: a balancing act between modernity and monetary stability. J. Econ. Stud. 47(4), 911–938 (2020)CrossRef
40.
Zurück zum Zitat Khan, J., Abbas, H., Al-Muhtadi, J.: Survey on mobile user’s data privacy threats and defense mechanisms. Proc. Comput. Sci. 56, 376–383 (2015)CrossRef Khan, J., Abbas, H., Al-Muhtadi, J.: Survey on mobile user’s data privacy threats and defense mechanisms. Proc. Comput. Sci. 56, 376–383 (2015)CrossRef
41.
Zurück zum Zitat Ozili, P.K.: Impact of digital finance on financial inclusion and stability. Borsa Istanbul Rev. 18(4), 329–340 (2018)CrossRef Ozili, P.K.: Impact of digital finance on financial inclusion and stability. Borsa Istanbul Rev. 18(4), 329–340 (2018)CrossRef
42.
Zurück zum Zitat Qian, Y.: Central Bank Digital Currency.: optimization of the currency system and its issuance design. China Econ. J. 12(1), 1–15 (2019) Qian, Y.: Central Bank Digital Currency.: optimization of the currency system and its issuance design. China Econ. J. 12(1), 1–15 (2019)
43.
Zurück zum Zitat Wang, J., Chenchen, H., Xiaofeng, Y., et al.: Distributed secure storage scheme based on sharding blockchain. Comput., Mater. Contin. 70(3), 4485–4502 (2022) Wang, J., Chenchen, H., Xiaofeng, Y., et al.: Distributed secure storage scheme based on sharding blockchain. Comput., Mater. Contin. 70(3), 4485–4502 (2022)
44.
Zurück zum Zitat Singh, A., Click, K., Parizi, R.M., et al.: Sidechain technologies in blockchain networks: an examination and state-of-the-art review. J. Netw. Comput. Appl. 149, 102471 (2020)CrossRef Singh, A., Click, K., Parizi, R.M., et al.: Sidechain technologies in blockchain networks: an examination and state-of-the-art review. J. Netw. Comput. Appl. 149, 102471 (2020)CrossRef
Metadaten
Titel
Blockchain-Based Central Bank Digital Currencies: A Comprehensive Survey
verfasst von
Shuo Chen
Zhiwei Liu
Xiang Xu
Haoyu Gao
Hong Lei
Chao Liu
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
DOI
https://doi.org/10.1007/978-981-99-9247-8_45

Neuer Inhalt