The Influence of Public Opinion on CBDC Marketing: A Sentiment Analysis

This study explores public opinion regarding CBDCs, focusing on the factors influencing this sentiment through a detailed analysis of social media discussions. Utilizing Public Opinion Theory and the Diffusion of Innovations Theory as theoretical frameworks, this research employs both qualitative and quantitative methods, including sentiment and content analyses. The sentiment analysis reveals a generally positive attitude toward CBDCs that, while varying in intensity, remains stable irrespective of fluctuations in cryptocurrency markets. This constancy of sentiment, despite increased participation in discussions, underscores the role of innovators. While specific differences between platforms were observed, an analogous trend indicating external influences emerged. Through content analysis, frequent bigrams in posts with negative sentiments were identified, highlighting diverse influencing factors across different platforms that reflect a wide range of perspectives. All findings are supported by the initial theories, providing profound insights into the dynamics of public opinion. The results affirm that a fundamentally positive public opinion from the outset is crucial for the success of CBDCs and offer vital insights for policymakers and financial institutions, enabling them to develop targeted communication strategies. The research presented in this paper is fundamentally based on the work completed for a Master’s thesis at the University of Applied Sciences Kufstein (Austria).