What can CBDC designers learn from asking potential users? Results from a survey of Austrian residents

The ongoing initiatives to offer central bank money to consumers in the form of retail central bank digital currency (CBDC) have triggered discussions on its optimal design. So far, the perspective of potential users has not been considered widely. To strengthen this perspective, we survey 2006 Austrian residents using a tailored questionnaire on payment preferences, attitudes towards a digital euro, selected technical features as well as potential security and privacy concerns. We find that the respondents are satisfied with the existing payment options. Only about half of the surveyed express at least some interest in a digital euro. About one half of those expects personal advantages. Central banks are advised to embrace a more user-centric design of CBDC, which must include communicating the key concepts and benefits to the potential users.