Bank of Canada researchers: Zero-knowledge proofs and similar cryptographic technologies are still in their infancy and temporarily unavailable for CBDC

The Bank of Canada released an employee analysis report on the privacy research of the Central Bank Digital Currency (CBDC). The report outlines technically feasible methods for protecting privacy in the Central Bank Digital Currency (CBDC) system, including developing frameworks for evaluating different privacy models, understanding the technical tools for formulating various privacy models, making recommendations for CBDC privacy design, and listing the main Risk and assess this. When designing the privacy of the CBDC system, many more subtle issues must be considered, such as whether all transactions should be routinely disclosed to the government, or only a part of the transaction, whether the identity of the payer should be hidden from the merchant, and whether the user can To some extent, the transaction exceeds the KYC regulations. After weighing the risks, the report pointed out that zero-knowledge proofs and similar cryptographic technologies are still in their infancy. The risk is that their technical complexity and immaturity may obscure their vulnerabilities.