KNOWLEDGE PLATFORM.
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The Bank of England releases a progress update on its exploration of a digital pound, a digital complement to banknotes. The update outlines the bank's desired outcomes in retail payments, including singleness of money, innovation, resilience, and effective governance. A digital pound could provide a safe and accessible digital infrastructure for participants.
The Bank of England publishes a design note outlining the blueprint framework for a digital pound. The framework sets out the aims, scope, and focus areas for the digital pound, including product vision, scheme and regulation, technology, and operations. The blueprint will provide a comprehensive proposition for a digital pound, informing the decision on whether to proceed with its development.
The Reserve Bank of India's global hackathon "HaRBInger 2024" received an enthusiastic response, with 534 proposals from teams across the world. The winning solutions focused on real-time fraud detection, ensuring transaction anonymity in CBDC, identifying mule accounts, and enabling visually impaired individuals to accurately identify banknotes.
The Bank of Canada releases a research paper on the use of privacy-enhancing technologies (PETs) in CBDCs. The paper explores the potential of PETs to protect user data and maintain confidentiality in CBDC transactions. It highlights the importance of balancing user privacy with regulatory compliance.
A Sberbank representative calls for a delay for the digital ruble launch, as the CBDC platform is still under development. While some banks may be ready by July 2025, Sberbank was only recently included in the trials, leaving it with limited time to prepare.
In 2025, Kazakhstan is pioneering an initiative to introduce stablecoins backed by its CBDC, the Digital Tenge. This innovative approach aims to extend stablecoin issuance beyond banks, fostering inclusivity and enabling seamless crypto purchases, transforming both digital finance and the crypto landscape.
The Bank of Korea hires a record 85 new employees this year, the largest intake in 43 years, as it expands projects including CBDC development and reforms to its loan system. The hiring surge also aims to enhance the bank's research capabilities, particularly at its regional headquarters, by recruiting more local talent.
The Hong Kong Monetary Authority (HKMA) unveils a "Supervisory Incubator for Distributed Ledger Technology" to help banks maximize the potential of DLT while minimizing risks. The incubator provides a platform for banks to reaffirm risk management controls and conduct live trials, promoting best practices for DLT-based banking solutions.
A representative of the Bundesbank discusses the European Central Bank's plan to introduce a digital euro. The project's focus is on ensuring the future of the currency, promoting European autonomy, and addressing the growing digitalization of the payment landscape, while maintaining the availability of physical cash.
The National Bank of Cambodia (NBC) and the State Bank of Pakistan (SBP) agree to strengthen and explore potential areas of cooperation, particularly in the development of CBDCs. The meeting provided an opportunity for the SBP delegation to learn from Cambodia's Bakong payment system.
IZNES, a European UCITS fund platform using blockchain, conducts experiments during the recent Eurosystem wholesale DLT settlement trials, leveraging the Banque de France's wholesale CBDC. The trials involves tokenized fund subscriptions and reinvestments, demonstrating the transformative potential of blockchain technology in streamlining fund management processes.
Several Filipino banks, including UnionBank, Rizal Commercial Banking, and Cantilan Bank, plan to launch a multi-bank peso stablecoin, PHPX, which will initially operate on the Hedera DLT network. The key goal is to enable seamless cross-border payments and remittances, leveraging the speed and efficiency of blockchain technology.
The tokenisation of assets, a key application of distributed ledger technologies (DLTs), has the potential to transform financial markets. However, despite growing interest, adoption remains scarce. A new OECD report identifies several hurdles, including lack of liquidity, absence of an ecosystem, and regulatory challenges, that must be overcome to unlock the benefits of tokenisation.
The Bank of Italy proposes a methodological framework to assess the smooth implementation of monetary policy with the introduction of the digital euro. The framework estimates the maximum amount of digital euro that can be issued without interfering with monetary policy implementation. The study suggests that the maximum amount should not exceed EUR 1.7 trillion.
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
WHAT WE DO
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.
Strong Commitment to Financial Inclusion
Expertise in Digital Banking and Financial Infrastructure Technology
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 wholesale CBDC (wCBDC) testing.
ADVANCING THE ADOPTION OF
DIGITAL CURRENCIES
PARTNERS
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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