Digitization has already covered many areas, and now it is entering the field of money. Central banks have begun work on the concept of issuing a new form of money – Central Bank Digital Currency (CBDC). Recognizing the advantages of introducing a digital form of central bank money emphasized in the literature, it is also necessary to pay attention to its potential threats, in particular to the rights and freedoms of citizens, including in the sphere of privacy. The aim of the article is to demonstrate that the emerging possible models of issue and functioning as well as the features of this money may result in significant threats to the sphere of privacy if this money is introduced in accordance with existing projects.

Money has existed in civilization for thousands years. The development of money has passed through various stages in accordance with time, place and circumstances and was linked to the growth in world trade and commerce. Next to cash came up non-cash payment transactions. In a dynamically changing environment, which is becoming increasingly digital, also financial area is undergoing transformations. One of its manifestations is progressive evolution of forms of noncash payments and emergence and intensive development of cryptocurrencies, based on blockchain technology. In recent years, an observed phenomenon is the work undertaken by central banks on the concept of issuing a new form of money – Central Bank Digital Currency. Central Bank Digital Currencies (CBDC) are a new, future form of money that can greatly increase the efficiency of payment and settlement systems in domestic and international financial markets. While CBDCs have to bring many benefits, there are also potential and real risks associated with them. One of them is the danger of complete loss of financial privacy for people making transactions using digital money.