KC Fed, Report:  What Consumer Surveys Say about the Design of a U.S. CBDC for Retail Payments

“Although researchers continue to discuss the possibility of a central bank digital currency (CBDC) for retail payments in the United States, the success of a CBDC will depend on consumer adoption. To understand how a CBDC could provide a good user experience, recent surveys in the United States and in other countries have asked consumers about their wants and needs for a potential CBDC.”

“Based on survey data, a CBDC designed to appeal to U.S. consumers would have the following attributes:”

“A robust infrastructure that allows consumers to see their balance and track their transactions in real time.”

“An app without fees that is simple to use, with extensive customer support and full offline capabilities.”

“Strong data protection that provides a “medium level of privacy” in transactions.”

“Overall, a majority of polled consumers prefer a CBDC to be dependable, secure, and convenient—a reliable and secure digital payment method that is simple, fast, and makes their lives easier.”