KNOWLEDGE PLATFORM.
CBDC Consulting
TICKERTAPE
The Bank of Namibia (BoN) is cautiously exploring a retail CBDC to modernize its financial system and boost financial inclusion. An IMF report suggests focusing on alternative payment solutions like the Instant Payment Solution (IPS) and addressing foundational gaps before committing to a resource-intensive rCBDC. Key priorities include enhancing digital infrastructure, refining regulations, and ensuring cyber security readiness.
Project Rialto, a collaboration between the Bank for International Settlements and several central banks, aims to improve cross-border payments using central bank money settlement and an automated foreign exchange conversion layer. The project seeks to reduce costs, increase speed, and enhance transparency in retail cross-border transactions, valued at over $800 billion annually.
A recent paper by the European Central Bank (ECB) critiques the terminology surrounding digital money and finance, highlighting inconsistencies and misleading language. The authors argue that terms like "crypto-asset," "smart contract," and "stablecoin" are often misused, leading to confusion and misunderstandings. The paper proposes alternative terminology to improve clarity, such as changing “Retail CBDC” to “retail Central Bank Electronic Money” (rCBEM).
Agustín Carstens, the General Manager of the Bank for International Settlements (BIS), questions whether the growing traction of stablecoins is due to the lack of evolution in traditional finance. He suggests that a technologically advanced CBDC could potentially fill the space occupied by stablecoins.
A recent survey conducted by the Bank of Israel finds that over half of the Israeli public is interested in using a digital shekel, with 34% expressing very high interest. The survey identifies key features that could enhance adoption, including protection against fraud and system errors, and the possibility of earning interest.
Joachim Nagel, the president of the Deutsche Bundesbank, expresses skepticism about the "crypto economy" and calls for the introduction of a digital currency in Europe, both for retail and wholesale use. Nagel sees a CBDC as a sovereign instrument to counter the growing influence of private sector actors in global finance.
Hitachi Payments, the Indian subsidiary of the Japanese IT giant, makes a strategic investment in Spydra, a blockchain startup focused on tokenization of real-world assets. The collaboration aims to introduce innovations in Web 3.0,CBDC, and blockchain technology for Hitachi's payment solutions and infrastructure.
Stephan Leithner, the CEO of German securities marketplace Deutsche Börse, outlines a 10-step strategy to transform the EU's Capital Markets Union into a Savings and Investments Union, with a CBDC at its core. Leithner sees the digital euro as a crucial component of the EU's financial strategy.
Standard Chartered Bank, Animoca Brands, and HKT form a joint venture to apply for a license from the Hong Kong Monetary Authority to issue a Hong Kong dollar-backed stablecoin. The partnership leverages the strengths of each company to drive innovation and cement Hong Kong's status as a global digital assets hub.
The Bank of Papua New Guinea, in collaboration with Japan's METI and fintech company Soramitsu, successfully completes a Proof of Concept for the country's retail CBDC, the Digital Kina. The initiative aims to enhance payment systems and improve financial inclusion across Papua New Guinea.
IDEMIA Secure Transactions (IST) partners with R3 to enable secure and seamless offline CBDC solutions, leveraging IST's offline capabilities to integrate with R3's Digital Currency platform. This expands CBDC reach, enhances financial inclusion, and introduces offline payment technology, representing a significant advancement in digital currency evolution.
A new report by OMFIF and G+D emphasizes the need for central banks to take decisive action on issuing CBDCs. Despite progress, many central banks are hesitant, citing concerns over low adoption and technical challenges. The report argues that CBDCs can foster a more inclusive, resilient, and accessible financial system.
Co-chaired by our Hubert Knapp, the Digital Euro Association's latest report delves into the role of open-source software (OSS) in CBDC development. The report highlights the benefits of OSS, including transparency, innovation, and cost efficiency, while also addressing challenges such as governance gaps, security vulnerabilities, and reputational risks.
WHAT WE OFFER
CBDC Consulting
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WHAT WE DO
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TECHNOLOGY
WHY CHAVANETTE ?
We are creating the Financial Services Infrastructure for the Next Generation.
Finance has never seen a technological transformation of this magnitude.
Chavanette Advisors speeds adoption of emerging technologies to help regulators and financial services providers solve complex challenges.
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Strong Commitment to Financial Inclusion
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Expertise in Digital Banking and Financial Infrastructure Technology
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Global Delivery Capability
What We Do
SERVICES
CBDC Consulting Services
OFFERING VALUE AT THE VANGUARD OF CBDC IMPLEMENTATION
Advisory Services
ADVISORY FOR THE DIGITAL ECONOMY
SOLUTIONS
Alpha Knowledge Platform
The Alpha Knowledge Platform (αLP) is your ultimate resource and knowledge base for Central Bank Digital Currency (CBDC) and the financial technologies powering the Digital Economy.
Let αLP be your one-stop-shop for staying informed on CBDC progress, be the primary source for accessing key research papers and articles, and be your guide through this exciting once in a lifetime transformation of the financial ecosystem.
Central Banking 4.0 Studio
With the rapid development of CBDCs globally, effective design and
usability testing are crucial for ensuring implementation and
organizational readiness.
Central Banking 4.0 Studio allows you to build and test
prototypes for rapid CBDC design and usability testing. Designed specifically for central banks and
their key stakeholders in CBDC testing.
ADVANCING THE ADOPTION OF
DIGITAL CURRENCIES
PARTNERS
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TRUST • INTEGRITY • DELIVERY
Chavanette Advisors specialises in the creation and deployment of future-focused technological solutions.
We provide expert advice and project management to financial services and enterprise clients globally, engaging disruptive technologies that are transforming their operations and industries.
We help clients leverage emerging technology to solve complex business and technology problems, drive innovation, and produce market-leading products and services.
Articles
NEWSBLOG
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CBDC and Regulated Stablecoins: Friend or Foe? – Part 4
EP11 – CBDC And Regulated Stablecoins: Friend or Foe – Part 4: Key Takeaways Over the past year, I have explored the complex debate surrounding
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CBDC and Regulated Stablecoins: Friend or Foe? – Part 3
EP10 – CBDC And Regulated Stablecoins: Friend or Foe – Part 3: Conclusion The question of whether we need regulated stablecoins if Central Bank Digital
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CBDC and Regulated Stablecoins: Friend or Foe? – Part 2
EP9 – CBDC and Regulated Stablecoins: Friend or Foe? Part 2 A New Era of Digital Finance The emergence of Central Bank Digital Currencies
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CBDC and Regulated Stablecoins: Friend or Foe? – Part 1
EP8 – CBDC and Regulated Stablecoins: Friend or Foe? Part 1 The Emergence of Digital Currencies Recently, the growing interest in Central Bank Digital Currencies