{"id":23754,"date":"2023-09-28T11:44:02","date_gmt":"2023-09-28T11:44:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bis-leads-successful-cbdc-experiment-with-multiple-banks\/"},"modified":"2023-09-28T11:44:02","modified_gmt":"2023-09-28T11:44:02","slug":"bis-leads-successful-cbdc-experiment-with-multiple-banks","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bis-leads-successful-cbdc-experiment-with-multiple-banks\/","title":{"rendered":"BIS Leads Successful CBDC Experiment with Multiple Banks"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The Bank for International Settlements (BIS), in collaboration with the central banks of Singapore, Switzerland, and France, has successfully executed a joint trial on the wholesale trading and settlement of cross-border central bank digital currencies (CBDCs). The Banque de France published the findings of this experimental endeavor on September 28.<\/p>\n

Known as Project Mariana, this initiative involved the testing of the trading and settlement of theoretical CBDCs, namely the euro, Singapore dollar, and Swiss franc, between mock financial institutions. The venture leveraged decentralized finance (DeFi) concepts operating on a public blockchain. Banque de France, the Swiss National Bank, and the Monetary Authority of Singapore orchestrated the project under the supervision of the BIS.<\/p>\n

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The innovative concept employed a unified token standard on a public blockchain. It incorporated bridges facilitating the flawless transition of CBDCs across diverse networks and utilized a distinctive decentralized exchange to autonomously conduct and settle spot foreign exchange transactions.<\/p>\n

The report indicates that all participating entities have regarded the experiment as a triumph, however, there\u2019s a consensus that \u201cfurther research and experimentation is needed.\u201d The release is cautious to clarify that Project Mariana is explorative. It says, \u201cProject Mariana is purely experimental and does not indicate that any of the partner central banks intend to issue CBDC or endorse DeFi or a particular technological solution.\u201d<\/p>\n

Just a day before unveiling the details of Project Mariana, Agust\u00edn Carstens, the general manager of BIS, emphasized the urgent need to refine national legal frameworks in nations where central banks lack the authority to issue CBDC.<\/p>\n

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BIS has been actively championing the exploration of cross-border CBDCs, spearheading multiple pilot projects globally. In June, BIS released<\/a> a roadmap for the future of central bank digital currencies (CBDCs).<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) The Bank for International Settlements (BIS), in collaboration with the central banks of Singapore, Switzerland, and France, has successfully executed a joint trial on the wholesale trading and settlement of cross-border central bank digital currencies (CBDCs). The Banque de France published the findings of this experimental […]<\/p>\n","protected":false},"author":5,"featured_media":23755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23754"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23754"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23755"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}