โน๏ธ
#๐ฅ๐ถ๐ฝ๐ฝ๐น๐ฒ ๐ฃ๐ฎ๐ฟ๐๐ป๐ฒ๐ฟ @๐๐ฐ๐ฐ๐ฒ๐ป๐๐๐ฟ๐ฒ ๐
@๐ช๐๐ ๐ ๐๐ผ
โ๐ ๐ผ๐ฑ๐ฒ๐ฟ๐ป๐ถ๐๐ถ๐ป๐ด ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ ๐๐ถ๐๐ต ๐ช๐ต๐ผ๐น๐ฒ๐๐ฎ๐น๐ฒ ๐๐ฒ๐ป๐๐ฟ๐ฎ๐น ๐๐ฎ๐ป๐ธ ๐๐ถ๐ด๐ถ๐๐ฎ๐น ๐๐๐ฟ๐ฟ๐ฒ๐ป๐ฐ๐ (๐๐๐๐๐)โ
๐ Wholesale Central Bank Digital Currencies (
#wCBDCs) are gaining global attention due to their potential to revolutionize financial systems, with 98% of
#centralbanks exploring them.
๐ธ๏ธ๐ธ๏ธ๐ธ๏ธ๐ธ๏ธ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐: ๐๐ธ๏ธ๐ธ๏ธ๐ธ๏ธ๐ธ๏ธ
๐ธ๏ธ๐๐ข๐ช ๐๐๐๐๐๐ ๐๐ถ๐น๐น ๐ฏ๐ฒ ๐๐๐ฒ๐ฑ:
Interbank payments such as domestic payments and cross-border payments via central bank accounts
Securities Transacations such as securities settlement, collateral and liquidity management, and post-trade operations.
The report estimated $268 trillion would be the total addressable market for
#tokenization, but that $6.2 trillion of that amount would be tokenized by 2030. ๐ฅ
Further research is needed for technical and regulatory interoperability as well as mitigating liquidity risks.
๐ธ๏ธ๐๐ผ๐๐ฟ ๐ฎ๐ฟ๐ฒ๐ฎ๐ ๐ผ๐ณ ๐๐ฎ๐น๐๐ฒ ๐ณ๐ผ๐ฟ ๐๐๐๐๐๐ ๐ฎ๐ฟ๐ฒ ๐ต๐ถ๐ด๐ต๐น๐ถ๐ด๐ต๐๐ฒ๐ฑ:
Harmonizing settlement times globally, expanding payment-versus-payment arrangements, mutualizing data across parties for automation and risk reduction, and tokenizing settlement media for tokenized securities and payment instruments.
๐ธ๏ธ๐ฃ๐ฟ๐ผ๐ฝ๐ผ๐๐ฒ๐ฑ ๐๐๐๐ ๐ถ๐ป๐๐ฒ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ ๐บ๐ผ๐ฑ๐ฒ๐น๐:
1. ๐๐ผ๐บ๐ฝ๐ฎ๐๐ถ๐ฏ๐ถ๐น๐ถ๐๐:
#CBDC networks could adopt common
#interoperability standards similar to industry standards like
#ISO20022, allowing individual systems to communicate seamlessly.
2. ๐๐ป๐๐ฒ๐ฟ๐น๐ถ๐ป๐ธ๐ถ๐ป๐ด: This model resembles Swift's network, enabling institutions to integrate and communicate through a hub-and-spoke model. Projects such as
#ProjectIcebreaker are exploring this approach by linking multiple retail CBDC systems.
3. ๐ฆ๐ถ๐ป๐ด๐น๐ฒ ๐ฆ๐๐๐๐ฒ๐บ: Initiatives like
#mBridge and the
#RegulatedLiabilityNetwork (RLN) propose a common platform for cross-border payments and FX among financial institutions settled in CBDCs issued by central banks, simplifying the process through a unified system.
๐ธ๏ธ๐๐ผ๐ป๐ฐ๐น๐๐๐ถ๐ผ๐ป๐: ๐
According to the report, while wCBDC pilots are underway, it may take around ๐ฉ๐๐ง๐๐ years before significant transitions occur. They conclude that wCBDCs are seen as crucial for future financial infrastructure, promising faster and more efficient payment settlements through atomic settlement.
๐ฅ๐ก๐ผ๐๐ฒ๐๐ผ๐ฟ๐๐ต๐ ๐ ๐ฒ๐ป๐๐ถ๐ผ๐ป๐ ๐ถ๐ป ๐๐ต๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐๐ฅ ๐๐ผ
James Wallis from
@Ripple, Vice President RippleX, VP of Central Bank Engagements and CBDCs
Paul Wong
@MusingsfrPaul from
@StellarOrg, Director of Product, CBDCs and Institutional Assets
#XRP #XLM #XRPL #CryptoTwitter #XRPCommunity #Stellar