Human-Centered Reference Model for Distributed Ledger Technology-based Central Bank Digital Currency Design and Implementation

Abstract

The problem addressed in this study is the lack of a proper conceptualization of the Distributed Ledger Technology-based Central Bank Digital Currency technical language that guides central banks and their stakeholders in the platforms design and implementation.This research aims to improve the DLT-based CBDC knowledge, proposing a human-centered reference model.We use Design Science Research methodology combined with other research methods.The literature has not provided a reference model that can be used to improve the design of the CBDC system to meet regulatory requirements.This study fills the gap in the literature by presenting a human-centered reference model for DLT-based CBDC that serves as a decision-aid tool to study citizens' needs and behaviors, to design user experience, to improve alignment between cultural values and policy roles, and to facilitate communication between experts and stakeholders on currency digitalization process.