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Central Bank Digital Currency (CBDC): The Technical Breakdown • John Davies & Lars Hupel
"Join John Davies and Lars Hupel as they dive into the technical details of Central Bank Digital Currency (CBDC), exploring its benefits, uses, and infrastructure, and how it's revolutionizing the payment landscape."
- CBDC offers a direct settlement mechanism, bypassing traditional payment rails, and is backed by the central bank, allowing for offline payments.
- Traditional banks have issues with KYC and anti-fraud measures, and CBDC can help resolve these issues.
- Mobile money is a similar concept, but CBDC is backed by deposits and is more reliable.
- The main advantage of CBDC is that it’s immediately settled, unlike traditional payment rails.
- CBDC can be used for online and offline payments, and can be integrated with existing payment systems.
- The language used in implementation is less important when working with containers.
- CBDC is not competing with cash or deposits, but rather offers a new payment option.
- The key benefit of CBDC is that it allows for seamless international transactions without the need for intermediaries.
- The infrastructure required for CBDC is complex, but it can be containerized to simplify the process.
- The goal of CBDC is to provide a secure, reliable, and efficient payment system.