The Policy & Technical team provide updates on the latest development in Central Bank Digital Currencies (CPDCs) and other digital currencies. Read the latest blogs written by Naresh Aggarwal, Associate Director - Policy & Technical.
CBDCs: June 2023
We continue to see evolution in the payments landscape. This blog includes information on the Bank of England’s CBDC Engagement Forum, the Bank of England’s CBDC Technology Forum and a report by the Bank for International Settlements (BIS) and the central banks of Canada, Japan, Sweden, Switzerland, Japan, the United Kingdom, the United States and the European Central Bank exploring retail CBDCs.
This blog from Naresh Aggarwal, Associate Director, Policy & Technical, at the ACT includes information on the HM Treasury/Bank of England consultation paper on the case for a retail CBDC or 'digital pound', the conclusion of The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden Project Icebreaker, and an updated version of the Digital Dollar Project (DDP) white paper 'Exploring a US CBDC'.
The blog includes information on the Bank of England’s CBDC Sample Wallet Proof of Concept and Research project, the ECB’s second progress report and a report from Australia’s Digital Financial Cooperative Research Centre on the state-of-play regarding the possible issuance of CBDCs.
Interest in CBDCs continues with more work being carried out on technology solutions and cross-border pilots as well as connections into local payment systems and the use of DeFi protocols. The latest blog covers some of these developments and an assessment of the rollout of the eNaira in Nigeria.
Analyses on the practical and theoretical implications of CBDCs continues. In the latest blog we include feedback from the Bank of England’s Technology and Engagement Forums and an analysis of the optimal level of CBDC in an economy. It also includes a useful tracker of how CDBCs are being considered across the world.
