Which lessons can be learned from existing CBDC projects?

Aug 1, 2023 | CBDC, Blockchain

The BIS Innovation Hub (BISIH) submitted a report to the G20 Finance Ministers and Central Bank Governors on its key lessons of their 12 CBDC projects. In general, the CBDC projects explored feasibility, desirability, and viability.

Overview over the BISIH CBDC projects

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Key lessons:

1️⃣ Wholesale CBDC for domestic use cases: For settling tokenized assets in central bank money, integration with RTGS systems is operational simpler, but wCBDC approaches provide more scope for future innovation and efficiency gains.

2️⃣ Retail CBDC for domestic use cases: Balancing privacy with financial integrity and security is challenging, but technologies are promising. Offline capabilities and a well designed API are essential.

3️⃣ CBDC across borders: Feasibility questions remain about how DLT platforms and existing systems interact, which scalability challenges lie ahead and how resilience and security can be guaranteed.

Note that all figures are from the paper.


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