BIS releases handbook for offline CBDC payments BankforInternationalSettlements BIS
- As countries around the world continue to progress with the development, testing and rollout of central bank digital currencies , the Bank of International Settlements is looking to help facilitate the process with the release of a comprehensive handbook on CBDCs for offline payments.
According to a survey conducted by the BIS, virtually all central banks consider offline functionality to be important, with 49% of central banks surveyed considering offline payments with retail CBDCs to be vital and an additional 49% deeming it advantageous. The degree to which CBDCs will be provided or used offline will vary significantly by country, region, demographics and specific contexts, which will influence the solutions chosen.
The goal of the handbook is to help central banks “understand the available technologies and security measures; understand the main threats, risks and risk management measures; understand the privacy issues, inclusion needs and resilience options; understand the design and architecture principles involved; and gain perspective on potential operational and change management issues.”
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