Blockchain and central bank digital currency

Tao Zhang; Zhigang Huang

doi:10.1016/j.icte.2021.09.014

ICT Express (Jun 2022)

Blockchain and central bank digital currency

Tao Zhang,
Zhigang Huang

Affiliations

Tao Zhang: Guangxi Key Laboratory of Trusted Software & Guangxi Key Laboratory of Cryptography and Information Security, Guilin University of Electronic Technology, Guilin, China; School of Cyber Science and Technology, Beihang University, Beijing, China; Corresponding author at: School of Cyber Science and Technology, Beihang University, Beijing, China.
Zhigang Huang: Fujian Provincial Key Laboratory of Financial Science and Technology Innovation, Fuzhou University, Fuzhou, China

DOI: https://doi.org/10.1016/j.icte.2021.09.014
Journal volume & issue: Vol. 8, no. 2
pp. 264 – 270

Abstract

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With the development of blockchain and digital currencies, central banks all over the world are accelerating the process of CBDC development. However, it is still controversial on adoption of blockchain in CBDC design. In the paper, we analyze both functional and non-functional requirements of CBDC design, and make a literature review on blockchain based CBDC schemes. Analysis findings show that permissioned blockchain is more suitable for CBDC than permissionless blockchain. Besides, there are some challenges in blockchain based CBDC, such as performance, scalability, and cross-chain interoperability. Our analysis is timely and can provide guidelines for blockchain based CBDC design.

Published in ICT Express

ISSN: 2405-9595 (Online)
Publisher: Elsevier
Country of publisher: Netherlands
LCC subjects: Technology: Technology (General): Industrial engineering. Management engineering: Information technology
Website: https://www.sciencedirect.com/journal/ict-express

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