- ホーム
- > 洋書
- > 英文書
- > Business / Economics
Full Description
As the world rushes towards Central Bank Digital Currencies (CBDCs), the Author invites You to stop time, for a moment, to scrutinise what lies beyond the hype and to ask a number of important questions, that appear, so far, to have been ignored by those intent on implementation, perhaps 'at all costs'.
Questions including (but not limited to):1) Are they really as successful (where they are currently used) and desirable, as it
is claimed?
2) What risks and harms may be caused (and/or made worse) by them?
3) What alternative solutions exist for the 'problems' CBDCs are being set up to
solve?
4) Are those 'problems' really problems at all, or, are those with vested interests
creating problems that don't really exist?
5) What is it about CBDCs that the organisations promoting them, might not want
you to see?
In each Chapter of Beyond the Hype, You are encouraged to look deeper and examine the underlying technology, the politics and the propaganda that appear to underpin CBDCs.
You will engage with the practical issues that must be taken into account before projects even begin and you will see what appears to be missing from plans, which may be a costly mistake for individuals and organisations.
While reading this book, look beyond what you've been sold about CBDCs by Central Banks and other interested parties and ask yourself this key question:
Do we really need CBDCs, or will they, in fact, do more harm than good?
And see what answers arise...
Contents
Table of Contents
The Introduction
Chapter 1: Counter-fraud and Authentication/ Verification
1) How do Central Bank Digital Currencies like the Digital Euro differ from
Cryptocurrencies like Bitcoin?
2) What are some known risks already with online banking?
3) How are risks of identity theft and fraud increased by reliance on The
Cloud?
4) How are risks of identity theft and fraud increased by your mobile / other
smart device 'knowing' your bank balance?
5) What are blind (zero-knowledge) proofs proposed for (in relation to CBDCs)
and what issues can they cause?
6) What is proposed for Strong Customer Authentication?
And what Issues (Privacy, Data Protection, Financial Crime Prevention,
Identity Theft) does this cause?
7) What other core issues are there around using biometrics for
authentication (fingerprint scanning/ eye scanning/ facial recognition and
voice recognition)?
a) False positives and false negatives.
b) Ease of hacking/ giving away someone's face/ voice/ fingerprints/
eyescans to a fraudster. Also body part theft/ kidnapping... (reference
NCIS and the eyes)
8) What is the proposed use for blockchain (and why is that problematic)?
9) What is the Double Spend(ing) risk and how do they propose to address
such issues?
10) What is Quantum Computing, what risks does it pose and what mitigations
are being considered?
Chapter 2: Outsourced Providers/ Third Parties
1) In relation to CBDCs, what are Central Banks proposing to use outsourced
providers for?
2) What issues arise from (multiple layers of) outsourcing?/ How might those
issues also affect CBDCs?
3) What Due Diligence must be done on providers before you agree to use
them/ their services?/ What common mistakes do organisations make in
relation to outsourced providers?
4) What contractual terms should Data Controllers include in agreements (and
make sure that processors also include in their agreements with any sub-
processors)?
5) How can you tell if your current provider (and/ or a future provider) isn't
compliant?
6) What Secure Multi-Party Computation do outsourced providers sometimes
propose and what issues does that cause?
7) What Open Source Components are proposed and what issues do they
cause?
8) What composable architecture and reusable modules are proposed and
why are they problematic?
9) What effect does outsourcing (and excessive use of data centres) have on
the Environment?
10) How is misleading advertising punishable and why do organisations need
to be very careful when they talk about CBDCs not to mislead the General
Public, including when they describe things as Privacy-enhancing?
Chapter 3: Innovative Technology
1) What 'advanced services' / 'value-added services' are offered and how can
people access them? What commercialisation of personal data may
happen as a result of CBDCs (possibly as a result of value-add(ed)
services)?
2) What issues arise from monetising personal data and/or otherwise sharing
it widely, without the knowledge or informed consent of the individual to
whom the personal data belongs?
3) What is the significance of ICO v Experian Para 178?
4) What do Central Banks appear to intend to use new cryptographic
algorithms for and What is the problem with designing systems to support
the 'rapid adoption of new cryptographic algorithms'?
5) What can be learned from the Federal Trade Commission cases against
Kurbo Inc and Everalbum and from the Clearview AI enforcement action?
6) What does Valid Consent look like?
7) What are Consent or Pay models and why would Central Banks be wise to
avoid (and make sure their processors and sub-processors avoid) using
them, in relation to CBDCs, including in relation to value-add services?
8) What are they proposing to automate?/ What automation is proposed?
(with/without human intervention & etc).
9) What issues can arise with unquestioning reliance on computers/
algorithms/ AI? (Post Office Limited Scandal and Court Scandal - Radio 4)
10) What can we learn from the Boeing Scandal?
Chapter 4: Digital Wallets and Aliases
1) What is a Digital Wallet/ What would Digital Wallets be used for?
2) What is the difference between Security of Non-Digital Wallets that contain
cash/credit cards and Security of Digital Wallets?
3) What are private and public keys - how do they work?
4) How can people keep track of Digital Wallet Payments?
5) What happens in the event of a power cut?
6) Who is responsible/ liable if Digital Wallets go wrong?
7) What conflicts may arise between Digital Wallets and the Payment Card
Services Security Standard?
8) What is the difference between disposable and re-usable aliases?
9) What are suggested Security features for Aliases and how can they be
broken?
10) What interlinking with messaging apps is proposed? - Why might that be
problematic?
Chapter 5: Effects on Society/ Social Effects
1) What are they proposing to analyse and where will the data come from?
2) What is the problem with the use of Big Data, like in China's system, for Anti-
Money Laundering/ financial crime prevention activities?
3) What is the problem with claiming that data and people are protected by
pseudonymisation?
4) What do Central Banks and other Financial Institutions, Messaging Apps (and
all other organisations) need to do first, before harvesting the data for
aggregation? Why do they need to do this?
5) What is said about Financial Inclusion?
6) How do Central Banks intend to make CBDCs financially inclusive?
7) What is the European Accessibility Act and how does that (is that likely to)
affect the development of CBDCs?/ What is the problem with using it as a
basis for CBDCs and other Financial Products and Services?
8) How could CBDCs cause/achieve Financial Exclusion and also Social
Exclusion instead of Financial Inclusion?
9) What so-called OFFline alternatives are offered and how does that affect the
question of Financial Inclusion?
10) What do the real motives behind creating CBDCs appear to be?
Chapter 6: Other Important Questions
1) What needs to be included in draft legislation?
2) What is the difference between truly anonymising/anonymisation and
pseudonymising/pseudonymisation and why do designers and engineers
need to understand the difference in relation to CBDCs?
3) What Competition (Law) and Consumer Protection (apart from Misleading
Advertising) issues arise from (and/or are compounded by) CBDCs and
how might those adversely affect the wider economy?
4) What are the risks and issues with Smart Contracts?
5) What interest rates appear to be considered and applied to CBDCs by
Central Banks and how might those interest rates affect individuals under a
CBDC scheme?
6) What is the problem with stating (and why is it misleading to state) that
"privacy and data protection need to be balanced with other public policy
objectives"?
7) What claims in respect of CBDCs appear to have been exaggerated? / How
successful do CBDCs appear to have been so far in a number of the
countries that have adopted them?
8) What is Social Credit? How does that link with some CBDCs?
9) How expensive could CBDCs be to run to the (UK) taxpayer?
10) How might customer services be affected by over-digitisation?
Conclusion
Glossary Of Terms
Bibliography/ Further Reading / Resources
About The Author
