commit f1e4f769d20234fbab6acfcc300b9b58bb43fd78
parent de9b74599020dc4c6d66f6bc47647f8bf6489398
Author: Christian Grothoff <christian@grothoff.org>
Date: Tue, 18 Jan 2022 20:14:25 +0100
discussion with Martin
Diffstat:
1 file changed, 7 insertions(+), 12 deletions(-)
diff --git a/2022-privacy/privacy.tex b/2022-privacy/privacy.tex
@@ -128,22 +128,17 @@ digital identity and CBDC''. The same idea is echoed in the French report
which quotes Catenae~\cite{catenae2020} to say that ``it is difficult to
envisage the creation of a retail CBDC, and more specifically a Digital Euro
without first creating a reliable, secure digital identity offering the
-necessary guarantees''. The statement is hard to defend, since current
+necessary guarantees''. From a technical perspective, the statement is hard to defend since current
cryptocurrencies work perfectly well without depending on a ``trusted digital
identity''.
-%MSC: Yes, but they are not (used as) CDBC (yet). They do not say that cryptocurrencies
-% do not work iwthout the ID. They say CDBC does not work.
-% Hence, this is another strawman argument.
-% They work as part of their current use cases without
-% the ID. Maybe better would be an argument limited to the _use_ (payment) and then make a bridge
-% to cash and how its use does not require an ID?
-% Otherwise, I would simply remove the sentence above.
-
-Naturally, it is understood that institutions working with a Digital Euro will
+
+From a regulatory perspective, it is understood that institutions working with a Digital Euro will
at times be legally required to establish the identity of actors. However,
when a Digital Euro needs a digital identity for some of the actors in the
-digital currency production chain, one could use certificates based on the
-already widely used X.509 standard, which are already in common use on the
+digital currency production chain, one can use existing KYC processes of
+commercial banks or use certificates based on the
+already widely used X.509 standard, which are both
+already in common use on the
Internet.\footnote{They correspond to the ``s'' in ``https'', for example.}
While we can imagine a world in which a new ``trusted digital identity''
exists, and develop new protocols for this world, this is by no means a
