Digitial Asset, Cambridge Publish Report that Analyzes CBDC Adoptionbr>
Digital Asset, the leading global developer of blockchain and digital currency initiatives, and Cambridge University today published a joint-report analyzing the challenges and solutions for the growth and adoption of central bank digital currency (CBDC) for cross-border payments. This is especially relevant given the recent UST crash and the troubling implications that the crash has for future stablecoins.
The report – “CBDC: From the Philosophical to Practical for Global Adoption” – highlights how CBDC initiatives have shifted from philosophical ideas to practical use cases and focuses on the technical recommendations of a successful CBDC implementation. Four key pillars for CBDC to realize its fullest potential include: interoperability, privacy, extensibility, and finality of settlement.
In addition, top considerations for central banks are as follows:
- Develop standards in the context of a global regulatory framework
- Build CBDCs grounded in privacy
- Leverage technology that fosters flexibility and interconnectivity
- Ensure scalability and resilience
More information about the report and top considerations for central banks can be found HERE.