Since cash can be identified as something unique by every user based on its particular look and feel, designing a CBDC (Central Bank Digital Currency) will be a big challenge. As the increasing possibilities of making payments online are not really clear to the majority of users. Accordingly, ensuring the recognisability of a CBDC (Central Bank Digital Currency) will be a challenge.
In a physical wallet, cash – central bank money – can easily be distinguished from a card as a means of payment. In a digital wallet, it will not be that obvious what is “behind” a transaction – i.e. what is the source that makes a payment happen.