Project Rosalind: building API prototypes for retail CBDC ecosystem innovation

The BIS Project Rosalind develops a prototype application programming interface layer for retail CBDC systems and explores ecosystem innovation.

Project Polaris: Offline payments with CBDC

As part of Project Polaris, the BIS Innovation Hub Nordic Centre has published a comprehensive handbook exploring key aspects of how central bank digital currencies (CBDCs) could work for offline payments. 

Read the report at https://www.bis.org/publ/othp64.htm

Anonymous digital payments?

Is there a place for anonymous CBDC payments?

The Bank of Israel has been experimenting with technology that would allow some CBDC payments to be made anonymously.

Setting out the results from its first digital shekel technological experiments, the bank says that one of its main focuses has been on finding a balance between offering the privacy afforded by cash and ensuring a CBDC cannot be used for things such as tax avoidance and money laundering.

The experiment examined a model developed by VMware that would see citizens have a wallet that can hold “ordinary” digital shekels, the transfer of which is recorded in the ledger, and “private” digital shekels, the transfer details of which are not recorded openly, and where both sides to the transaction enjoy complete privacy as with cash payments.

Read more HERE.

CBDCs: Here's what every central bank in the world is working on

Have you ever needed a comprehensive list of where each Central Bank is at with their respective Central Bank Digital Currency?

Well, here it is. A recent article, posted by Madhvi Mavadiya (Head of Content at Finextra) will be periodically updated to provide the most recent CBDC developments across 80+ central banks, so bookmark it and use it as a reference tool.

You can access the article HERE. 

Why Central Bank Digital Currencies need a solid legal foundation

Why do Central Bank Digital Currencies need a solid legal foundations? As any form of money, digital currency requires a sound legal basis. The legal treatment of Central Bank Digital Currencies depends on its design features. The distinction between account-based and token-based has significant implications.

 Catalina Margulis, a lawyer from the Legal Department of the IMF explains.

Could digital currencies put banks out of business?

Cryptocurrencies like Bitcoin have been billed as a major disruptor to finance. But digital currencies issued by governments might be even more radical—they may even threaten the future of traditional banking.

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Why central banks want to launch digital currencies

Interest in bitcoin and other cryptocurrencies may be surging, but central banks don’t want to be left behind by financial innovation. In fact, more than 80% are examining how to launch digital versions of their own currencies. CNBC’s Joumanna Bercetche takes a look at why these cautious institutions may soon be launching a revolution in how we think about money.