CBDC Timeline Launching a CBDC must follow a clear process, involve multiple stakeholders, and consider the wider social, political, economic, and structural context. The roadmap for implementing a CBDC given here will not be universally applicable, but is a helpful illustration of how implementation can work. 3-5 Years to launch a CBDC Given …
A CBDC, at a minimum, consists of a record of transactions (a ledger) and an interface to enable users to exchange currency. This core ledger, which should be stored in a secure environment, forms the basis of a CBDC and allows assets to be issued by a central bank. On top of this, other products, …
The CBDC ledger may be on either a private or a public network. Digital currencies can use either, or a combination of the two, as detailed in our ‘The Technology behind CBDCs’ blog. Private networks Private networks, where data is only accessible by a controlled audience, are often associated with more anonymity, privacy, and control …
Instrument CBDCs are designed to be used by every kind of stakeholder in an economy, as with cash. But we can broadly categorise the types of payments that would typically be made with a CBDC into: • Retail (households and businesses) • Wholesale (banks, financial institutions, payment providers) What is a retail CBDC? Retail CBDCs …
Account vs token-based, which is the right authentication method for CBDC for you? The difference between an account-based or token-based approach of CBDC may be technical, but it has significant implications for identity and access management, cost, and design. Put simply, the former means the system is made up of accounts that each have …