This topic is for discussions on ongoing Open Research: CBDCs: Central Bank Digital Currency
- Note: We are inviting General Public Review.
The topic is open and Foundation welcomes public discussion for an editorial publishing of a position/public discussion paper on CBDCs.
This position paper(s) will be released with an open source license and shall provide insights, discusses challenges, and provides technology-based recommendations for Central Banks to launch a sustainable CBDC.
We are currently considering Reserve Bank of India’s “CBDC ” project
If you are already subscribed, you can also see comments, made by different contributors and editorial reviews to the paper.
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Please remember to follow Foundation’s Open Research guidelines here.
Important Dates for the Chapter on RBI’s CBDC
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The Public Discussion literature is now released with CC 4.0:
You can read the research content by visiting the knowledge base below;
CBDC by RBI for financial access
To add to above, ECB recent report titled:
Progress on the investigation phase of a digital euro.
ecb.europa.eu
426.84 KB
Image Credits: Infographic images are from the Report cited above.
Timeline of ECB’s Investigation:
The Bank is deliberating on the various aspects of technological choices available,
which includes, suitability of Tech Architecture(DLT/ Centralized/ Hybrid; Open Source/Proprietary), security of the Token Creation Process and Central Bank Node, standards and protocols to be followed by each stakeholder, robust preventive counterfeiting tech choices
(Robustness of Verifier technology), security considerations; especially in offline transactions and smart contract features and its use cases in CBDC in both, Wholesale(W) and Retail(R) segment. …(Section 8.5 Pg 48)
It is therefore imperative that while collecting data for issuance of CBDC, best interest of the citizens should be prioritised, only those personal identifiable data may be collected which is necessary and use these data only for the purpose for which it is collected. (Section 7.7.3 Pg 46)
In the end, the environment and energy intensiveness concerns shall also need to be factored while
designing the technology choices…Pg 31
Read more below.
Citation: Concept Note on CBDC by RBI dated 7-10-22
https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/CONCEPTNOTEACB531172E0B4DFC9A6E506C2C24FFB6.PDF
