Bowler, Ryan;
Goodell, Geoffrey;
Revans, Joseph;
Bizama, Gabriel;
Speed, Chris;
(2024)
A non-custodial wallet for digital currency: design challenges and opportunities.
Social Science Research Network (SSRN): Amsterdam, The Netherlands.
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Abstract
Digital currency is a novel form of money that could be issued and regulated by central banks or other actors, offering benefits such as programmability, security, and privacy. However, the design of a digital currency system presents numerous technical and social challenges. This article presents the design and prototype of a non-custodial wallet, a device that enables users to store and spend digital currency in various contexts. To address the challenges of designing a digital currency system, we conducted a series of workshops with internal and external stakeholders, using methods such as storytelling, metaphors, and provotypes to communicate digital currency concepts, elicit user feedback and critique, and incorporate normative values into the technical design. We derived basic guidelines for designing digital currency systems that balance technical and social aspects, and reflect user needs and values. Our work contributes to the digital currency discourse by demonstrating a practical example of how digital currency could be used in everyday life and by highlighting the importance of a user-centred approach.
| Type: | Working / discussion paper |
|---|---|
| Title: | A non-custodial wallet for digital currency: design challenges and opportunities |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.2139/ssrn.4615036 |
| Publisher version: | http://dx.doi.org/10.2139/ssrn.4615036 |
| Language: | English |
| Additional information: | This version is the version of record. For information on re-use, please refer to the publisher's terms and conditions. |
| Keywords: | BDC, digital currency, wallets, hardware wallets, non-custodial wallets, privacy, self-custody, co-design, user-centred design |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10200371 |
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