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 <p class="is-style-lead">Central banks in the Americas, under the guidance of BIS, have outlined key <a rel="noopener noreferrer nofollow" title="technical" href="https://thebittimes.com/tag/technical.html">technical</a> <a rel="noopener noreferrer nofollow" title="priorities" href="https://thebittimes.com/tag/priorities.html">priorities</a> for potential CBDC architecture.</p>
 <p>The Consultative Group on Innovation and the Digital Economy (CGIDE) report is a valuable reference for countries researching or implementing Central Bank Digital Currency (CBDC) solutions.</p>
 <h2 class="wp-block-heading" id="central-bank-collaboration">Central bank collaboration</h2>
 <p>In a cooperative initiative, central banks are laying out key technological aspects for a future CGIDE proposal on a Central Bank Digital Currency (CBDC) proof of concept. The proposal considers technical requirements such as interoperability, scalability, user-centric design, security, and data privacy.</p>
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    <p lang="en" dir="ltr">Central banks in the Americas define technical priorities for a potential #CBDC architecture, to serve as a reference for countries conducting research or planning to implement a CBDC solution https://t.co/8M7kjGH4Xi pic.twitter.com/mrUvI5GVOy</p>— Bank for International Settlements (@BIS_org) December 12, 2023
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bank for International Settlements Set to Trial Own CBDC
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 <p>Aiming to address technological <a rel="noopener noreferrer nofollow" title="priorities" href="https://thebittimes.com/tag/priorities.html">priorities</a>, the proposed CBDC architecture is a general reference for central banks involved in CBDC research or development without representing a policy stance on CBDC design, issuance, adoption, or <a rel="noopener noreferrer nofollow" title="technical" href="https://thebittimes.com/tag/technical.html">technical</a> standards, according to CGIDE members and observers.</p>
 <p>In its initial phase, the CGIDE <a rel="noopener noreferrer nofollow" title="technical" href="https://thebittimes.com/tag/technical.html">technical</a> task force (TTF) will primarily concentrate on programmability <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> related to clearing and settlement. The chosen <a rel="noopener noreferrer nofollow" title="technical" href="https://thebittimes.com/tag/technical.html">technical</a> requirements within each category, specifically tied to these <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a>, were determined through a survey among TTF members. Each central bank member selected <a rel="noopener noreferrer nofollow" title="technical" href="https://thebittimes.com/tag/technical.html">technical</a> requirements based on policy objectives.</p>
 <h2 class="wp-block-heading" id="striking-a-balance">Striking a balance</h2>
 <p>The announcement descends from an update about Project Tourbillon on Nov. 29, led by the Bank for International Settlements’ innovation hub, as notable progress has been unveiled in striking a balance between privacy and transparency within CBDCs.</p>
 <p>The final report, recently released by Project Tourbillon, presents a nuanced strategy for handling privacy in CBDC transactions. The proposal suggests a system allowing users to make payments without divulging personal information to merchants or other involved parties.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Italy and South Korea central banks reach agreement on CBDC collaboration
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bis-unveils-technical-priorities-for-cbdcs-in-americas-tbt73456.html">https://thebittimes.com/bis-unveils-technical-priorities-for-cbdcs-in-americas-tbt73456.html</a></p>

BIS unveils technical priorities for CBDCs in Americas

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