Influence of e-krona & e-CNY on individual privacy : A comparative study between Sweden and China

Sammanfattning: This paper analyses the innovative digital money CBDC and its potential influence in Sweden and China with Privacy Calculus Model. The research aims to understand how e-krona and e-CNY will influence individual privacy in Sweden and China, and what the similarities and differences are. The e-krona and e-CNY will further reduce the usage of cash, which is the full-anonymous money. E-krona may not be full-anonymous, when it replaces some cash, the payment privacy also gets reduced. E-krona and e-CNY will both allow their central banks to have more control of transaction data. Compared to cash, privacy is reduced. Compared to other e-payments such as bank cards, individual privacy is more protected. The commercial organizations may have less access to transaction data with e-krona and e-CNY, there will be less targeted advertising, individuals will have more privacy. Swedish interviewees also trust the current payment tools. But they think e-krona could further improve the payment system. Chinese interviewees complain a lot about private payment companies, they think the change by e-CNY will be great. For personal interest, both sides have interests in e-krona/e-CNY. But Swedish interviewees are interested in e-krona due to the willingness to try new things. Chinese interviewees also mention that they are attracted by its free transaction fees, linking the isolated payment platforms.