ECB survey found that EU residents are most interested in having the proposed "digital euro" respect their privacy as the CBDC plan seeks to create a freely accessible digital means of payment.
CBDCs raise some concerns around data privacy and security that can’t be overlooked: a system where all data is stored in a central location creates one point of failure, leading to concerns around potential data breaches.
Reasonable anonymous transactions have been proposed for the digital yuan, which is currently in testing in multiple regions of the country. PBOC officials have also promised to deliver the best privacy protection, though questions remain.
Proposed CBDC from India's central bank, which could get a test run in 2022, has some concerned about the implications for privacy. The "digital rupee" pilot could launch as early as April.
