Data Archive - Survey for Consumer Perceptions and Willingness to Adopt rCBDCs Before and After the e-HKD Pilot

Version year: 2023

Principal Investigator(s):
Kohei KAWAGUCHI, Department of Economics, The Hong Kong University of Science and Technology;
Marc DORDAL CARRERAS, Department of Economics, The Hong Kong University of Science and Technology

Project information

Project description

This study investigates the public's perception of retail central bank digital currency (rCBDC) and identifies the factors influencing its adoption. Conducted in collaboration with a prominent bank in Hong Kong, this research involved a hands-on experience with a prototype payment system making using of an e-HKD, being an rCBDC which could be implemented in Hong Kong. Participants' opinions on rCBDCs were assessed through surveys conducted before and after their engagement with the e-HKD pilot. Initially, participants displayed a broadly positive attitude towards rCBDC, although no single factor emerged as a decisive influence on their adoption decision. However, the pilot experience statistically significantly altered perceptions, particularly regarding security, ease of payment, and promotional functions, thereby impacting their willingness to adopt rCBDC. This study underscores the importance of understanding consumer perceptions and suggests that these perceptions are subject to change through exposure to regulatory information campaigns, prototype experiences, and initial models.

Consequently, the study recommends a cautious approach to interpreting the reliability of existing survey findings in this domain.

Search keywords

Central Bank Digital Currency, rCBDC, Consumer Perceptions, Digital Currency Adoption, Payment Methods, Financial Technology

Scope of project

The pilot study was conducted from September 16th to September 22nd, 2023, on HKUST campus, and entailed participant registration for an e-HKD digital wallet, devised and maintained by HSBC.

Methodology

Our research team, composed of HKUST faculty and HSBC staff, conducts data collection and analysis on customers and merchants who participate in our Hypothetical e-HKD prototype system. The prototype provides 100 Hypothetical e-HKD to each customer (voluntary HKUST students and staff participants, as detailed below) and allows them to use it at the participating merchants on HKUST campus.  

For the pilot study in September, pre- and post-surveys will be utilized to measure their preferences and behaviors regarding payment methods and their perception of Hypothetical e-HKD before and after the hands-on experience of the prototype system. We also record the transaction logs of the prototype system.  

Citation

Marc Dordal Carreras, Kohei Kawaguchi, Si Yuan Jin, and Haicheng Guo. (2024). Survey for Consumer Perceptions and Willingness to Adopt rCBDCs Before and After the e-HKD Pilot (2023) .

Data (files)    Restricted access

Click here to sign the Data Use Application and Agreement Form. Principal investigator's approval is required to access the data.

Data files for this project are summarized as follows:

Data-related publications

This section will be updated from time to time.