Paper 2026/2199

PulpoPay for Auditable Privacy CBDCs: Introducing High Concurrency and Offline Confirmation

Abstract

Central Bank Digital Currencies (CBDCs) aim to replicate the utility of physical cash in the digital era by balancing privacy with regulatory auditability. Despite recent advancements, existing CBDC schemes suffer from limited concurrency and the lack of offline payment confirmation, forcing users to process concurrent payments one by one and requiring counterparts to remain online. These constraints severely limit CBDC's applicability in high-frequency, real-world payment scenarios. This paper proposes PulpoPay, the first CBDC scheme to provide high concurrency and offline confirmation, while maintaining auditable privacy. To achieve high concurrency and offline confirmation, PulpoPay, at its core, introduces a coin-based payment protocol that facilitates users to concurrently withdraw, transfer, and deposit coins without synchronization or online requirements for counterparts. For auditable privacy, we leverage signatures on randomizable ciphertexts to enable fine-grained auditing without compromising privacy. Furthermore, we design a coin identifier with offline-checkable uniqueness to resist double-spending attacks even in disconnected (offline) environments. We formally prove PulpoPay's security within the Universal Composability (UC) framework. We implement a prototype of PulpoPay. Experimental results demonstrate that (1) a payment with an offline receiver can be finished within 0.3~s using a mobile phone; (2) PulpoPay outperforms the state-of-the-art PEReDi [CCS'22] in the scenarios of concurrent payments. For a typical setting of 200 concurrent payments, PulpoPay reduces processing time by at least 66.89% and communication overhead by at least 76.45%. This advantage becomes even more significant as the number of concurrent payments grows.