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Cash Access Initiatives vs. CBDC Development - Coggle Diagram
Cash Access Initiatives vs. CBDC Development
Alignments
financial inclusion
Serving unbanked populations
Providing digital alternatives to cash
Enhancing access in rural areas
Public Trust and Stability
Providing secure payment options
ensuring acceptance for all citizens
Ensuring universal acceptance
Conflicts
Competition with Traditional Banking
Impact on bank funding and credit provision
Changes to retail banking models
Potential displacement of bank deposits
User Adoption
Digital literacy requirements
Concerns over privacy and surveillance
Resistance to change from cash users
Coexistence Strategies
:
Complementary Design
Maintaining cash alongside CBDC
Designing CBDC to complement existing payment methods
CBDC as digital banknote
Public-Private Partnership
Collaboration with fintech for innovation
Leveraging existing technologies and networks
Intermediated CBDC models involving commercial banks
Policy Considerations:
Consumer Protection
Ensuring security against cyber threats
Maintaining trust in the monetary system
Safeguarding user privacy
Economic Sovereignty
Enhancing domestic financial infrastructure
Supporting local currency use in digital space
Reducing dependence on foreign payment systems