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Glossary
Key terms in our research and how we define them.
Digital Cash
A specific architecture for a CBDC that mimics physical cash, in that it is accessible, that it doesn’t require signing up for an account with a financial institution to receive funds, that it settles at par, and that transactions are person-to-person.
Discovery User Research
The neutral, rigorous study of users—including their needs and pain points—so protocols and policies can be designed for real people and their perspectives. - risk mitigation content
Digital Currency
Payment tools issued in digital form including but not limited to: decentralized forms of cryptocurrency (e.g. Bitcoin), privately-issued fiat-backed currencies (e.g. stablecoins), and/or centralized, publicly-issued digital currencies (e.g. CBDC).
Cryptocurrency
TBD
Retail Central Bank Digital Currency (CBDC)
A digital form of fiat currency issued by a Central Bank to individuals and businesses for retail use.
User(s)
People who are, or may be, affected by the emergence of digital currency.
Policymakers
Government officials (often employed by Central Banks) who have the decision-making power to (1) define CBDC designs, (2) develop CBDC options, including the allocation of funds for national R&D, pilots, and other exploratory activities, and (3) deploy a CBDC or initiate the steps that would trigger its launch.
Technologists
Specialists who apply their technical expertise to research and/or develop the design(s), protocol(s) and capabilities of digital currency.