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Central Bank digital currencies, crypto currencies, and anonymity: economics and experiments
Published 2021
SUERF policy brief, 222, 1 - 7
With the development of new forms of money, as cryptocurrencies and central bank digital currencies, the attention paid to their role as a store of privacy is increasing. Two intertwined questions arise: Theoretically, which is the difference between privacy and anonymity? Empirically, is anonymity relevant in shaping the demand for these currencies? The results of laboratory experiments show that anonymity matters and increases the overall appeal of a medium of payment, and that this effect is stronger for risk-prone individuals.
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Money, digital cash and cryptocurrencies: privacy matters
Published 2019
VoxEU, 12 March 2019
Alongside liquidity and store of value, is privacy an important attribute of money? Using laboratory experiments, the column shows that privacy matters, and increases the overall appeal of money. The experiments suggest that future competition between alternative currencies will depend on how the three properties are mixed.