The Importance of Evidence Based, Customer Led Design

OMFIF’s Digital Monetary Institute has worked with Giesecke + Devrient (G+D) to issue a paper ‘Consumer Attitudes to CBDC: considerations for policy makers’. The paper includes an introduction to CBDCs and an overview of the rationale for CBDCs, the work being done around the world and the challenges being addressed. 

An Ipsos MORI survey of a 1,000 people in both America and Germany and 500 people in each of Indonesia and Nigeria provides the base consumer attitude data. These countries providing regional variation and a developed/developing world split. The importance and relevance of the work being to answer the question, will anybody use a CBDC even if all the problems are solved?

What is a CBDC?

Central banks see CBDCs as a public currency in a digital age. Their role is to complement cash giving the public freedom of choice, the increase financial inclusion and to future-proof the digital payment infrastructure. Given every society is different and the payment landscape is changing fast, the core system will need to be flexible.