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Governance: enabling universality and guaranteeing autonomy
Access: 'hybrid CBDC' for access by non-local banks
Regulations: separating settlement and non-settlement processes
Successful development of prototypes
Project Dunbar worked with R3 and Partior to successfully develop prototypes on the distributed ledger technologies of Corda and Quorum, respectively. The prototypes proved the technical feasibility of implementing a shared multi-CBDC platform. While there are still further questions to be explored and challenges to be resolved, the successful development is a first step towards the vision of a shared platform for international settlements using multi-CBDCs.
Demo: R3 Corda CBDC Sandbox
Demo: Partior CBDC Sandbox
The details and conclusions of the project were published in a report that supports the efforts of the G20 roadmap for enhancing cross-border payments, particularly in exploring an international dimension of CBDC design.
Related information
Press release: BIS Innovation Hub and central banks of Australia, Malaysia, Singapore and South Africa develop experimental multi-CBDC platform for international settlements
Press release: BIS Innovation Hub and central banks of Australia, Malaysia, Singapore and South Africa will test CBDCs for international settlements (2 September 2021)
Multi-CBDCs: Designing a digital currency stack for governability", by Monetary Authority of Singapore
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