Can digital central bank currencies function as cash?

This research by Riksbank econs asks the question:

Digital central bank currencies are money that can either be held in an account with the central bank (account-based) or as digital units of value (token-based). Both types of digital central bank currency require, however, that there are one or more registers behind them, keeping track of who owns the money.

The link to these registers means that neither the token-based nor the account-based money can offer the same anonymity as cash, as the transactions will be traceable.

Nor will offline payments, where there is no communication with the register, be possible to any great extent. A token-based CBDC does not appear to have a greater capacity to fully replicate cash than an account-based one in this respect.

Hmm.. Perhaps a stronger reason for governments to implement CBDCs.

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