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CBDC advisory service
We help central banks decide how to stay relevant in the digital future
Implementable recommendations
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Provides expertise in CBDC policy considerations, design and technology implementation and operationalization
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Based on production experience since 2014
Central banks will be advised by seasoned subject matter experts who have experience in digital currency proof of concepts, pilots and general roll outs in both developed and emerging economies
Senior strategy development advisors
Central bank policy and payment system experts
Legal professional with CBDC speciality
Technology innovators and information security advisors
eCurrency's seasoned subject matter experts examine the opportunities, needs and impacts of the issuance of CBDC in a comprehensive manner. They work closely with the central banks to advise the design options and considerations step by step, instead of starting with assuming the characteristics of certain technology, to develop a holistic CBDC architecture suitable for the specific economy.
CBDC architecture development framework
Policy layer
CBDC may serve different policy objectives depending on the development stages and goals for the economy. For example, CBDC can contribute to consumer protection, economic growth and payment system improvements, interoperability, financial inclusion, national security and human rights according to the US Whitehouse.
Depending on its design, issuing CBDC can affect a country’s macroeconomic environment, which in turn affects monetary policy.
Technology layer
The choice, design and implementation of the technology should be driven by the policy, ecosystem and operation layers to satisfy the security, interoperability, settlement finality, scalability, data privacy, compliance, energy efficiency requirements for the intended use cases.
A survey among bank CROs globally finds 73% of them see cybersecurity risk as the biggest threat to their business in the near future. CBDC can either increase the perception (and real risk) or help to be part of a solution. The technology used for CBDC must be selected without compromise to the highest security standards for today and the future.
Ecosystem layer
Financial systems, include non-bank electronic money and mobile money services, must become more cyber-attack resilient, more cost efficient and faster. CBDC is an important milestone on realization of this journey. At the same time, the authority must create the regulatory environment and address the drivers for existing and new players (service providers, aggregators, government bodies, businesses, merchants) to drive innovation, competition, accessibility and adoption, while making ecosystem more robust.
Operation layer
The development and operationalization of CBDC require the joint effort of the innovation, currency management, payment systems, licensing, legal, supervisory, compliance, information technology, security, public communications functions of the authority. Other functions such as international settlement will be involved if the CBDC is used in cross border transfers. The additional activities may be performed by existing or new personnel depending on the skills required and workload. The decisions can be assessed by defining the responsibilities and requirements of the roles for the various phases of implementation, and mapping them to the existing organization units to identify fits and gaps.
CBDC Arch
A central bank client
CBDC and asset tokenisation feasibility study and implementation planning
Client chief executive
We chose eCurrency because we want implementable recommendations based on real experience.
Client project director
We are very satisfied with the results! eCurrency has delivered everything and beyond the original scope.
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