Paper 2020/1565

Achieving privacy and accountability in traceable digital currency

Amira Barki and Aline Gouget


Several Central Bank Digital Currency (CBDC) projects are considering the development of a digital currency that is managed on a permissioned blockchain, i.e. only authorized entities are involved in transactions verification. In this paper, we explore the best possible balance between privacy and accountability in such a traceable digital currency. Indeed, in case of suspicion of fraud or money laundering activity, it is important to enable the retrieval of the identity of a payer or a payee involved in a specific transaction. Based on a preliminary analysis of achievable anonymity properties in a transferable, divisible and traceable digital currency systems, we first present a digital currency framework along with the corresponding security and privacy model. Then, we propose a pairing-free traceable digital currency system that reconciles user's privacy protection and accountability. Our system is proven secure in the random oracle model.

Available format(s)
Cryptographic protocols
Publication info
Preprint. MINOR revision.
Digital currencyanonymitytraceability
Contact author(s)
barkiamira @ gmail com
aline gouget @ thalesgroup com
2020-12-17: received
Short URL
Creative Commons Attribution


      author = {Amira Barki and Aline Gouget},
      title = {Achieving privacy and accountability in traceable digital currency},
      howpublished = {Cryptology ePrint Archive, Paper 2020/1565},
      year = {2020},
      note = {\url{}},
      url = {}
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