Daniel Eidan

Project mBridge is a collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People's Bank of China and the Central Bank of the United Arab Emirates.

After experimenting with different technology architectures in earlier phases of the project, the project team developed a new blockchain – the mBridge Ledger – custom-built by central banks for central banks to serve as a specialised and… Mehr anzeigen

Project mBridge is a collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People's Bank of China and the Central Bank of the United Arab Emirates.

After experimenting with different technology architectures in earlier phases of the project, the project team developed a new blockchain – the mBridge Ledger – custom-built by central banks for central banks to serve as a specialised and flexible platform for implementation of multi-currency cross-border payments in central bank digital currencies (CBDCs).

Over the course of six weeks in 2022, the mBridge platform was put to the test through a pilot involving real-value transactions among 20 commercial banks from four different jurisdictions. The pilot advances multi-CBDC experimentation by settling real value directly on the platform and on behalf of corporate customers. Over US$12 million was issued on the platform, facilitating over 160 payment and FX PvP transactions totalling more than US$22 million in value. Weniger anzeigen

This report reviews practical experiments lead by the BIS Innovation Hub (BISIH) to show how central bank digital currencies (CBDCs) could help deliver faster, cheaper and more transparent cross-border payments.
These experiments demonstrate that common systems encompassing multiple CBDCs are operationally feasible and could bring efficiencies. Yet policy, legal, governance and economic questions remain.
The BISIH is uniquely positioned to bring central banks together in the collaborative… Mehr anzeigen

This report reviews practical experiments lead by the BIS Innovation Hub (BISIH) to show how central bank digital currencies (CBDCs) could help deliver faster, cheaper and more transparent cross-border payments.
These experiments demonstrate that common systems encompassing multiple CBDCs are operationally feasible and could bring efficiencies. Yet policy, legal, governance and economic questions remain.
The BISIH is uniquely positioned to bring central banks together in the collaborative efforts that will be necessary to make further progress on this question. Weniger anzeigen

Daniel Eidan at the Bank for International Settlements explains how the organisation is making headway in the latest central bank digital currency projects and the challenges that lie ahead

This report sets out the take-aways of Project Inthanon-LionRock Phase 2 and introduces the scope of the third phase. Phase 2 achieved a prototype that enables three participating central banks to control the flow of their CBDC and to monitor transactions and balances of their issued CBDC, with programmable levels of transaction privacy and aspects of automated compliance. The prototype demonstrates a substantial increase in cross-border transfer speed from days to seconds, as well as the… Mehr anzeigen

This report sets out the take-aways of Project Inthanon-LionRock Phase 2 and introduces the scope of the third phase. Phase 2 achieved a prototype that enables three participating central banks to control the flow of their CBDC and to monitor transactions and balances of their issued CBDC, with programmable levels of transaction privacy and aspects of automated compliance. The prototype demonstrates a substantial increase in cross-border transfer speed from days to seconds, as well as the potential to reduce several of the core cost components of correspondent banking. It thereby demonstrates the potential of faster and lower cost cross-border transfers for participating jurisdictions. Weniger anzeigen

This paper examines the increasing interest around central bank digital currency (CBDC) across the globe,
focusing on progress made to date. A range of projects completed over the past five years with differing
scopes and mandates have provided useful insight, and now central bankers focused on issuing a digital
currency may choose from a variety of implementations. This paper outlines the existing applications of
CBDC, explores potential implementation options, and points to… Mehr anzeigen

This paper examines the increasing interest around central bank digital currency (CBDC) across the globe,
focusing on progress made to date. A range of projects completed over the past five years with differing
scopes and mandates have provided useful insight, and now central bankers focused on issuing a digital
currency may choose from a variety of implementations. This paper outlines the existing applications of
CBDC, explores potential implementation options, and points to potential technological solutions. Weniger anzeigen

The primary goal of Project Jasper is to evaluate the potential role for distributed ledger technology (DLT) in Canadian financial market infrastructures and any material benefits that could result from its adoption. Jasper Phase III expanded upon earlier phases to broaden the DLT ecosystem beyond wholesale payments to include securities settlement for TSX listed equities. Jasper III was commissioned by Payments Canada, TMX Group, and the Bank of Canada in collaboration with delivery partners… Mehr anzeigen

The primary goal of Project Jasper is to evaluate the potential role for distributed ledger technology (DLT) in Canadian financial market infrastructures and any material benefits that could result from its adoption. Jasper Phase III expanded upon earlier phases to broaden the DLT ecosystem beyond wholesale payments to include securities settlement for TSX listed equities. Jasper III was commissioned by Payments Canada, TMX Group, and the Bank of Canada in collaboration with delivery partners Accenture and R3. Weniger anzeigen