The CBDC Manifesto

The world is exploring CBDCs. Let’s make sure key issues are addressed.

READ
SIGN

The Manifesto

1. A retail central bank digital currency (CBDC) should have a strong value proposition (SVP) and tangible benefits for citizens. The decision process should start with identifying the problem(s) to be solved with CBDC and evaluating all alternative solutions. The CBDC option should be chosen only if it has a compelling value proposition relative to the best alternatives. If the CBDC option is chosen, SVPs to other digital forms of money are essential. To drive adoption, it is not sufficient to offer a new means of payment that has the same features as today’s means of payment.

Potential SVPs of CBDCs for users are high privacy guarantees, both online and offline capabilities with no need for later third-party approval or validation, low risk as a digital form of default-resistant central bank money, and CBDC value units as part of an independent, sovereign, and sanction-resistant payment infrastructure to ensure monetary sovereignty in uncertain times. For merchants, the SVPs are lower fees than for currently-existing means of payments and instant settlement. For companies/industry features for programmable payments and the use of smart contracts are SVPs.

 

2. A CBDC should provide the highest degree of privacy. In this context, a CBDC should supply technically guaranteed privacy by design and by default, without the need to trust the central bank to preserve privacy. The CBDC can be utilized, ideally, by anonymous payments for small- and medium-sized transactions.

 

3. A CBDC should not be designed in a way to do harm to society, e.g., via very negative interest rates, or via so-called programmable money that restricts the use of money for specific types of expenditures (e.g., special food and beverages, computer games etc.) or that expires after a certain amount of time. A CBDC should be based on principles of self-determination and freedom. 

 

4. The development of a CBDC should follow a collaborative approach involving all stakeholders (central banks, financial institutions, associations, end-users, companies, researchers, etc.) and have a well-defined governance system. The design and development processes should be transparent, public, and open. Ideally, a CBDC should be open-source and use open-source technology to increase transparency.

 

5. The CBDC should exhibit technical, regulatory and usage interoperability, both locally and globally.

Read More

Inked

Signatories to the CBDC Manifesto

 

  • Abel Borghuis

  • Achim Braunsteffer

  • Dr. Achim E. H. Wolf, Innovation A

  • Adam Retkes, CBDC Think Tank Budapest

  • Adeolu Fadele, Cryptography Development Initiative in Nigeria

  • Dr. Adriana Carotenuto

  • Ainur Kenzhayeva, PFTDC of the National Bank of Kazakhstan

  • Ajibola Soyoye

  • Akira Sasaki

  • Alex Smith

  • Alexander Gloy, Lighthouse Investment Management

  • Alexander Korte, MVJ Vermögensverwaltung GMBH

  • Dr. Alexander Rad

  • Prof. Dr. Alfredo Muñoz

  • Alyssa Ong

  • Amnon Samid, BitMint

  • Andre Costa, Free Enterprise Advisors

  • André Kießling

  • Andreas Ebner, GFT Technologies SE

  • Andreas Hartauer

  • Dr. Andreas (Andy) Jobst, Roxe Inc.

  • Andrew Wright, Thomas Murray

  • Animesh Ghosh, KornChain

  • Anita Dickson

  • Anthony Smith

  • Antonio Lanotte

  • Antony Welfare

  • Aparajita Roy, KornChain London

  • Arpit Singh

  • Ashot Bychkov

  • Balaji Natarajan

  • Barbara Baldwin, InnoValue

  • Barbara Cleve

  • Dr. Benedikt Zoller, ZHAW

  • Benjamin Schellinger, Branch Business & Information Systems Engineering of the Fraunhofer FIT

  • Benjamin Schmid, First Coin GmbH

  • Bernardo Stegmaier, Bitpanda

  • Bernhard Kaufmann

  • Bert Bosman, Step Forward Consultancy

  • Binur Zhalenov, PFTDC of the National Bank of Kazakhstan

  • Brian Becerra Rojas, 21MBulls

  • Carmen Calhoun, CC’s Industries LLC

  • Chris Bruppacher, Swiss Stablecoin AG

  • Christian Pfister

  • Cizar Bachir Brahim, SWNGLOBAL- MetaMUI

  • Clark Parsons, Internet Economy Foundation

  • Clemens Behrend

  • Conrad Kraft

  • Damian Szkudlarek, hoopbit Damian Szkudlarek

  • Daniel Alkan, Severn Consultancy

  • Daniel Dilworth

  • Daniel Holk

  • Daniel Stahl, Cryp2D GmbH

  • Daniel Zommer

  • Dániel Szegő

  • Dr. David Tercero-Lucas

  • Dercio Frade

  • Prof. Dr. Deyan Radev, Sofia University

  • Diego Montes Serralde

  • Diego Rodríguez, Kyron records

  • Dieter Emmer

  • Dirk Braun

  • Dmitry Ouzkikh

  • Dominik Merz

  • Eron Mamudi

  • Esosa Orhue, E-Warehouse Consulting

  • Eugenio Reggianini

  • Eva Veldhoen

  • F. Altenburg, Ons Geld

  • Felix Bekemeier

  • Fernando L. B. Marques, University of Sao Paulo

  • Dr. Filipe Ferreira

  • Francesco Mazzetti

  • Francis Souza, ACI Worldwide

  • Frans Sikking

  • Frédéric Tronnier

  • Ganesh Shetti, 3si technologies

  • Gann-Jiun Lin, Aimichia Technology., CO., LTD.

  • Georg Lanzinger

  • Dr. Gerald Hessenberger

  • Gerrit Van Malkenhorst, Stichting Ons Geld (Our Money Foundation)

  • Dr. Gianluca D’Imperio

  • Gonzalo Davalos, 21MBulls

  • Gourav Roy, BCG

  • Gurinder Dua

  • Hamit Boyraz, Finwise Consulting

  • Hamza Mohammed Ali

  • HE Leever

  • Helena de Boer

  • Hendrik Tuinstra, Renderklippenweg 7

  • Prof. Dr. Horst Treiblmaier

  • Ian Gerstgrasser, DERA

  • Dr. Ivan Homoliak, Faculty of Information Technology, Brno University of Technology

  • Iván Manso Arenal, Accenture

  • J.P. Nolan

  • Jafar Mussaid, Nuqud

  • Jan Spörer

  • Jannah Patchay

  • Jaskaran Singh

  • Dr. Javier Jorge Vázquez, Catholic University of Ávila

  • Jeremi Van den Berghe

  • Johan Welling

  • Johan Zijlstra

  • Johannes Sedlmeir

  • John Kiff, CBDC Think Tank

  • Dr. Jonas Gross

  • Dr. Joost Smitskamp

  • José Zárate, Stamping.io

 

  • Kamlesh Nagware

  • Katarina Mattmuller

  • Khang Vu Tien

  • Dr. Kimmo Soramaki, FNA

  • Dr. Kombe Kaponda, Bank of Zambia

  • Laurens van Dijk, Exin bv

  • Lena Grale

  • Lennart Schuldt

  • Linda Dudek

  • Luitpold Deutzer

  • Lukas Kress

  • Lukasz Jakubczak

  • Luki Song, FirstBank

  • Mahmoud Jawwad, Nova Blockchain Club

  • Makis Malioris

  • Marcel Knobloch

  • Marek Łyjak

  • Mariano Camere Echevarría, 21MBulls

  • Mark Allin

  • Mark Jansen

  • Mark Janssen

  • Dr. Mark Yama Tampuri Jnr

  • Dr. Martijn van der Linden, The Hague University of Applied Sciences

  • Martin Debusmann

  • Dr. Maurits Hooiveld

  • Melvina Markmann

  • Dr. Michael Gebert,  European Blockchain Association

  • Mickaël Gaborit, Blooo

  • Nadine Kanaan

  • Navin Oswal

  • Neo Lin, Qianyuhui International Environmental Investment

  • Neslihan Ozkan

  • Dr. Nicola Davolio, Hupry

  • Nirinasoa Rajaona

  • Oliver Naegele

  • Omar Kerschbamer

  • Pallavi Thakur

  • Pascal Kaiser

  • Patricia Suárez, ASUFIN

  • Patrick van Asbroeck

  • Paul Hulsman

  • Paul McOlaka

  • Dr. Peter Dittus

  • Dr. Peter Slivka, Zota Payment Technologies AG

  • Phil Haunhorst, Obius

  • Philipp Misura

  • Prof. Dr. Philipp Sandner, Frankfurt School Blockchain Center

  • Pier Mario Lupinu

  • Piort Naw

  • Piotr Tatarczyk

  • Prakash Neupane, Exploreby Technology

  • Rajib Ghosh, KornChain Limited

  • Raphael Sperling, Tax Sparrow

  • Richard Turrin

  • Richard Weals, Learn Trade Transform Ltd

  • Rick Clephas

  • Ridwan Badmus

  • Dr. Ritesh Jain, Infynit / Former COO HSBC

  • Roberto Pagliari

  • Roberto Wächtler

  • Rosita Sikking-Reeberg

  • Rungrot Tatiyawongwiwat

  • Dr. Samuel De Gannes, De Gannes Technolgies Inc.

  • Sandro Stoffers

  • Sarah Palurovic

  • Sascha Braband

  • Sathyanarayanan Sridharan

  • Selin Sezer

  • Prof. Dr. Sergio Luis Náñez Alonso, Dekis Research Group

  • Sheilla Olga, INATBA

  • Simon Soppart

  • Sophie Aurelly Ngouakang Tchinda, Tchinsop law firm, Douala-Cameroon

  • Srihari Sridharan

  • Srikanth Tanniru

  • Stavros Goulas

  • Stephan Dreyer

  • Dr. Stephan Simon

  • Steve Wallace

  • Sunny Jiang, MaasValley

  • Suzan Bosch

  • Dr. Talha Ocal

  • Tamara Ferreira Schmidt

  • Tan Gürpinar, Blockchain Europe

  • Tatiana Matersheva-Indlekofer

  • Thomas Michalski, Infineon Technologies

  • Tilemachos Angelitsas, Omnis Engineering Services PC

  • Tom Dapp, KfW Digital Office

  • Tomasz Wawron

  • Tomaž Fleischman

  • Tommy Cooksey

  • Ubasinachi Nkume, Clplegal

  • Valentin Seehausen, Open Currency Technology

  • Valeria Aragonés Díaz

  • Dr. Victor Muñoz, BRIGHT NFT

  • Vid Hribar, RBI AG

  • Vidyashankar Ramalingam

  • Vito Domizio

  • Wieger Janse

  • Xavier Lavayssière, ECAN

  • Zvinodashe Mupambirei

Contact us