Privacy in Digital Payments—Escaping the Panopticon
Harald Uhlig, Mike Alonso, Jon Frost · Georgetown journal of international affairs · 2023
Abstract: Digital payment innovations increase the tension between the right to privacy and combating illicit activity. Democratic societies must rise to the challenge of striking the proper balance. This will not be easy. Whether with bank accounts, cryptocurrencies, or central bank digital currencies (CBDCs), society needs an open dialogue on how to ensure the privacy of payments data. For CBDCs, technological and institutional safeguards must be used to help.