CBDC & Privacy Technology


With guests: 

Michael Greco, Digital Dollar Project

Robert Zev Mahari, MIT Connection, Science & Engineering


Privacy is a fundamental aspect of life, and privacy regarding financial transactions is a critical topic for everyone. The myriad of digital forms of money and payment instruments available to the public today all affect our privacy in some way, and retail CBDCs will be no exception.

Depending on how privacy is embedded as a design option, adoption rates of rCBDCs could be affected, prompting us to explore privacy in the context of digital currencies and the role of trust and technology further in Session #15 of the CBDC Broadcast.

Guests Michael Greco and Robert Zev Mahari, joined FNA to offer their diverse perspectives to examine the different approaches to privacy and discuss whether a two-tier rCBDC system could bring us close to the privacy levels we have today while ensuring compliance with AML regulations.


The session covered:

  • The current state of affairs regarding privacy in retail digital payments
  • Whether technology can provide sufficient privacy protection for rCBDCs
  • Who are we trusting with our privacy as CBDCs are introduced
  • Whether a two-tiered CBDC system could offer an effective and practical way to keep privacy as we enjoy it today
  • Whether the quest for extreme privacy from an rCBDC is justified?
  • The potential risks to privacy that are unique to CBDCs compared to traditional payment systems
  • How is privacy regarding retail CBDC payments likely to evolve, and how will central banks solve the privacy dilemma associated with rCBDCs?


Watch on-demand


Session #15 Guests


Michael Greco

Digital Dollar Project

Michael Greco is the Policy Research Director for the Digital Dollar Project, a nonprofit organization dedicated to encouraging public discussion on the advantages and challenges of a potential U.S. central bank digital currency (CBDC) – or a “Digital Dollar”. In his current role, Michael supports the Digital Dollar Project’s mission to explore a digital dollar through research and pilot programs and to inform policymakers and the public with real-world data and research. Michael previously worked on public policy issues related to digital assets for R3, an enterprise distributed ledger software company. He also led Accenture’s government relations work on public policy issues related to digital currencies, artificial intelligence, and other technology and financial services issues. Michael started his career on Capitol Hill working for U.S. Senator Tammy Balwin and earned a bachelor’s degree in political science from Hofstra University.


Robert Zev Mahari

MIT Connection Science & Engineering

Robert Mahari is pursuing a joint JD/PhD degree at Harvard Law School and the MIT Media Lab’s Human Dynamics Group. His work focuses on how technology can and should affect the practice of law by broadening access to justice and increasing judicial efficacy. Robert’s work includes exploring how Central Bank Digital Currencies can be designed to be inherently resilient to money laundering, creating theoretical and empirical models to understand the effect of third-party litigation funding on access to justice, designing natural language processing techniques to predict judicial precedent and proposing computational antitrust devices to promote competitiveness in data-driven markets. As part of his research, Robert collaborates with private and public entities around the world to prototype computational legal solutions to challenges ranging from modelling social inflation to designing blockchain systems for government grant disbursement.


Missed our previous sessions? Watch the series on-demand


22nd March 2023

CBDCs and Privacy Technology

With: Michael Greco (Digital Dollar Project) and Robert Zev Mahari (MIT University) 

Watch Now


23rd February 2023

Project mBridge: Real-Value Transactions through a Cross-border CBDC Platform

With: Daniel Eidan (Bank for International Settlements) & Ousmène Jacques Mendang (Accenture)

Watch Now >


12th January 2023

Digital Currencies: Coexistence or Competition

With: Catherine Gu (Visa) & Carmelle Cadet (EMTECH)

Watch Now >


8th December 2022

CBDC Interoperability in Cross-border payments

With: John Kiff (Satoshi Capital Advisors) & Simon Chantry (Bitt)

Watch Now >



17th November 2022

CBDC Interoperability, Benefits and Implications- A U.S. Perspective

With: Commissioner Hester M. Peirce (The U.S Securities and Exchange Commission) & Patrick McCarty (Georgetown University)

Watch Now >


5th October 2022

Gaining Momentum: Options for access to and interoperability of CBDCs worldwide

With: Anneke Kosse & Illaria Mattei (Bank for International Settlements)

Watch Now >


29th September 2022

What CBDC features will drive consumers’ and merchants’ adoption?

With: John Velissarios (The Digital Dollar Project) & Raoul Herborg (G+D)

Watch Now >


10th August 2022

Aligning Technology and Policy: The Oliver Wyman Forum and Amazon Web Services (AWS) Report

With: Larissa de Lima (Oliver Wyman Forum) & Erica Salinas (Amazon Web Services)

Watch Now >


20th July 2022

CBDC Motivations and Challenges – A Perspective from Asia-Pacific

With: Masaki Bessho (Bank of Japan) & Dr Steven Hu (Standard Chartered Bank)

Watch Now >


30th June 2022

Central Banks and Private Money: The Past, Present and Future

With: John Kiff (Satoshi Capital Advisors) & Harish Natarajan (The World Bank)

Watch Now >


18th May 2022

CBDC Motivations and Challenges – A Perspective from Latin America

With: Ludmilla Butueau Allien (Bank of the Republic of Haiti) & Dr Adolfo Sarmiento (Central Bank of Uruguay)

Watch Now >

28th April 2022

CBDC Motivations and Challenges- A Perspective from the UK & Canada

With: Dr Francisco Rivadeneyra (Bank of Canada) & Mehregan Ameri (Bank of England)

Watch Now >

16th March 2022

HSBC & IBM’s Joint CBDC Project

With: Mark Williamson (HSBC) & Soren Mortensen (IBM)

Watch Now >

15th February 2022

Critical policy issues & Lessons Learned from UK and China

With: Jean-Michel Godeffroy (JMG Consulting) & Keith Bear (University of Cambridge)

Watch Now >

11th January 2022

Quantifying the Impact of CBDCs

With: Dr Kimmo Soramäki (FNA) & Dr Carlos León (FNA)

Watch Now >

More News

The Power of Payments Data

By Will Towning Use cases for financial and economic stability Payments play a fundamental role in our financial and economic systems. From the most humble of activities, such as buying a coffee or catching the underground, to the most complex financial derivative arrangements. Despite this, payments have historically been seen as the rather uninspiring, ordinary […]

The CBDC Broadcast Session #15

CBDC & Privacy Technology   With guests:  | Michael Greco, Digital Dollar Project | Robert Zev Mahari, MIT Connection, Science & Engineering   Privacy is a fundamental aspect of life, and privacy regarding financial transactions is a critical topic for everyone. The myriad of digital forms of money and payment instruments available to the public today all […]

The Suptech Broadcast Session #4

Suptech as a Strategic Institutional Priority   Thursday 9th March   As the financial industry continues to evolve, the adoption of suptech has become increasingly important for Central Banks as well as financial authority bodies globally. Successfully implementing suptech requires careful consideration of key components such as regulatory efficiency and effectiveness, talent and technology investment, […]
Copyright FNA © 2023 | Privacy Policy