Central Banks Explore New Retail CBDC Infrastructure with Privacy Focus

The Hong Kong Monetary Authority, Bank of Israel and Bank for International Settlements teamed up for Project Sela, a retail CBDC test.
Project Sela proposes a new financial infrastructure called the Access Enabler to facilitate customer-facing CBDC activities.
The ecosystem maintains user privacy while allowing participation from various financial institutions.
Users control their money at all times as the central bank provides settlement and manages the ledger.
One challenge is integrating with RTGS systems not designed for frequent small transactions.

cointelegraph.com

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Posted 9/12/2023, 9:46:03 PM