4  barriers (such as a lack of access to the required technologies, a strong resistance to adopt them or simply a strong preference for cash) may leave individuals out of the financial and payments system.  Although carefully-designed and rightly-implemented CBDCs reduce its likelihood, the materialization of operational risks remains a possibility.
This could translate into a burden for the reputation (and credibility) of the central bank.  Striking a right balance between the anonymity and traceability of transactions using CBDCs may prove elusive. At one extreme, full anonymity, while protecting user privacy, may facilitate the execution of illegal activities.