Print Your Own Money: A Cash-Like Experience for Digital Payment Systems

Digital money is getting a lot of traction recently, a process which may accelerate even more with the advent of Central Bank Digital Currency (CBDC). However, digital money has several disadvantages: Payments are difficult or outright impossible in emergency situations, such as the failure of the electricity grid or internet. CBDC may also be difficult to handle for children, the elderly, or non-resident travelers. To overcome these problems, we design a cash-like CBDC experience in the form of physical money that may ultimately replace physical banknotes and coins. In contrast to classic banknotes and coins, our design is integrated with digital CBDC payment systems. Users can easily access physical money without the involvement of any third parties. We also address user concerns for adopting payment systems from both technical and security perspectives. We introduce a model for trust level, and discuss how our system meets the security concerns of our users.