The paper was issued on 13 May 2022 and aims to study issues like payment choices, privacy in the digital economy, and financial intermediation, suggesting that adopting a CBDC would be preferred to traditional digital payments, including bank deposits. The risk of adopting a CBDC would be particularly experienced by platforms that compete with banks in the market for financial services.
However, according to the European Central Bank, one of the main problems of cash is that it cannot be used in online transactions, even though it preserves anonymity. On the other hand, bank deposits can be used online but do not provide the same degree of anonymity to users, and imply additional costs, as well as a compliant GDPR agenda.
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