Buongiorno, considerato che di tanto in tanto straparlo di GNU Taler, mi permetto di segnalarvi: https://taler.net/papers/cbdc2021en.pdf --8<---------------cut here---------------start------------->8--- How to Issue a Central Bank Digital Currency By David Chaum (a), Christian Grothoff (b), and Thomas Moser (c) (a) xx Network (b) Bern University of Applied Sciences and GNU Project (c) Swiss National Bank This version: January 2021 First version: May 2020 Abstract With the emergence of Bitcoin and recently proposed stablecoins from BigTechs, such as Diem (formerly Libra), central banks face growing competition from private actors offering their own digital alternative to physical cash. We do not address the normative question whether a central bank should issue a central bank digital currency (CBDC) or not. Instead, we contribute to the current research debate by showing how a central bank could do so, if desired. We propose a token-based system without distributed ledger technology and show how earlier-deployed, software-only electronic cash can be improved upon to preserve transaction privacy, meet regulatory requirements in a compelling way, and offer a level of quantum-resistant protection against systemic privacy risk. Neither monetary policy nor financial stability would be materially affected because a CBDC with this design would replicate physical cash rather than bank deposits. I. Introduction Ever since the rise of personal computers in the 1980s, and especially since the National Science Foundation removed its restrictions on using the Internet for commercial purposes in 1991, there has been a quest to create digital cash for online payments. The earliest proposal was by Chaum (1983). Even though such schemes were implemented, they did not catch on; instead, credit card systems became the dominant online payment method. Nakamoto’s (2008) proposal for a purely peer-to-peer version of digital cash and the subsequent successful launch of Bitcoin have unleashed a new era of digital cash research and development. CoinMarketCap lists over 5,000 cryptocurrencies. Recently, central banks have started to consider, or at least study, the issuance of digital currencies (see Auer et. al. 2020, Boar et al. 2020, Kiff et al. 2020, and Mancini-Griffoli et al. 2018). [...] The token-based CBDC proposed here also allows the preservation of a key feature of physical cash: transaction privacy. It is usually argued that cryptographic privacy protections are so computationally demanding that the high resource requirements make their use on mobile devices infeasible (see Allen et al. 2020). While this may be true in the context of DLT, where public traceability of transactions is necessary to prevent double spending (Narayanan et al. 2016), it is not true for the Chaum-style blind-signature protocol with a central bank proposed in the present paper. Our CBDC, based on blind signatures and a two-tier architecture, guarantees perfect, quantum-resistant transaction privacy while providing anti-money laundering (AML) and counter terrorism financing (CFT) protections for society that are actually stronger than those of banknotes. [...] --8<---------------cut here---------------end--------------->8--- É dal 1983 che è tutto chiaro. Saluti, Giovanni. -- Giovanni Biscuolo Noi, incompetenti come siamo, non abbiamo alcun titolo per suggerire alcunché.