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Central bank digital currencies risk becoming a digital Leviathan


Central bank digital currencies (CBDCs) already exist in several countries, with many more on the way. But although CBDCs can promote financial inclusivity by offering convenience and low transaction costs, their adoption must not lead to the loss of privacy and erosion of civil liberties.

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The authors acknowledge helpful discussions with, and research assistance from, I. Abba, J.-W. Chang and J. Le Cornu.

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Correspondence to Andrea Baronchelli, Hanna Halaburda or Alexander Teytelboym.

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The authors declare no competing interests.

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Baronchelli, A., Halaburda, H. & Teytelboym, A. Central bank digital currencies risk becoming a digital Leviathan. Nat Hum Behav 6, 907–909 (2022).

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