Anonymous, Immediate H/W Wallet at CBDC

It is difficult to ensure anonymity in a CBDC environment. We design and develop H/W Wallets that can guarantee anonymity and immediateness, just like existing banknotes.

CBDC is potentially a new form of digital central bank money that can be distinguished from reserves or settlement balances held by commercial banks at central banks. There are various design choices for a CBDC, including: access (widely vs restricted); degree of anonymity (ranging from complete to none); operational availability (ranging from current opening hours to 24 hours a day and seven days a week); and interest-bearing characteristics (yes or no). However, due to the characteristics of the blockchain, anonymity cannot be guaranteed. In part, because cash is rapidly disappearing in their jurisdiction, some central banks are analyzing a CBDC that could be made widely available to the general public and serve as an alternative safe, robust and convenient payment instrument. In circumstances where the traditional approach to the provision of central bank money – in physical form to the general public and digital form to banks – was altered by the disappearance of cash, the provision of CBDC could bring substantial benefits.

Management and protection of CBDC with H/W Wallet

We designed a 5 bits, 10 digits H/W PuF Wallet as shown below.

H/W Wallet is designed with PuF, so all information contained in each digit is thoroughly protected. However, if a wallet is lost or stolen, PuF cannot be duplicated, so a high-value digit of 6 digits or higher among 10 digits of currency values is downloaded from the server and updated at any time. The lower 5 digits are under tens of thousands of won, so if your wallet is lost or stolen, you take the loss. A new H/W Wallet needs to be created.

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