OeNB-Freitagsseminar with Geoffrey Goodell

A Non-Custodial Wallet for CBDC: Design Challenges and Opportunities

OeNB Freitagsseminar with Geoffrey Goodell, University College London

Central Bank Digital Currency (CBDC) is a novel form of money that could be issued and regulated by central banks, offering benefits such as programmability, security, and privacy. However, the design of a CBDC system presents numerous technical and social challenges. This paper presents the design and prototype of a non-custodial wallet, a device that enables users to store and spend CBDC in various contexts. To address the challenges of designing a CBDC system, we conducted a series of workshops with internal and external stakeholders, using methods such as storytelling, metaphors, and provotypes to communicate CBDC concepts, elicit user feedback and critique, and incorporate normative values into the technical design. We derived basic guidelines for designing CBDC systems that balance technical and social aspects, and reflect user needs and values. Our paper contributes to the CBDC discourse by demonstrating a practical example of how CBDC could be used in everyday life and by highlighting the importance of a user-centred approach.

Date
Friday, November 8, 2024 | Start: 11:00 a.m. | End: 12:30 p.m.

Venue
The event is planned both, online via Webex and onsite at the Oesterreichische Nationalbank, Otto-Wagner-Platz 3, 1090 Vienna, Veranstaltungssaal, Ground Floor.

Please register by November 6, 2024, at the latest.