Syngjoo Choi

Focus We examine how people in Korea may respond to the introduction of a retail central bank digital currency as a payment method. Since no real usage data exist, we conduct a discrete choice experiment with more than 3,500 individuals, where participants evaluate pairs of hypothetical payment methods defined by attributes such as issuer, form of issuance, fees, timing of settlement and discounts.

Supporting Information Filename Description iere12746-sup-0001-Appendix.pdf985.4 KB Appendix References , , , , and , “What Can CBDC Designers Learn from Asking Potential Users? Results from a Survey of Austrian Residents,” Oesterreichische Nationalbank Working Paper 241, 2022. , , and , “Privacy and Human Behavior in the Age of Information,” Science 347(6221) (2015), 509–514. , , and , “What is Privacy Worth?” Journal of Legal Studies 42(2) (2013), 249–274.

Focus This study considers designs of central bank digital currency (CBDC) concerning privacy protection and data governance. We conduct a randomised survey experiment and find that privacy protection is among the key features to consider in the design of CBDC. Contribution We use the randomised survey experiment of a nationally representative sample of over 3,500 participants from Korea. We measure how willingness to use CBDC changes with the degree of anonymity and privacy protection.