Three major banks and 10 thousand citizens will participate in the first “retail” CBDC pilot in Thailand. The experiment will allow Thai legislators to assess the benefits and associated risks for future regulation.
projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the"Retail CBDC" will be conducted inside the private sector on a limited scale.“The BOT will assess the benefits and associated risks from the Pilot to formulate related policies and improve the CBDC design in the future.
The pilot is separated into two tracks. During the first one — a “Foundation track” — CBDC will be tested in cash-like activities, i.e., paying for goods and services, within limited areas and a scale of 10,000 retail users. Three companies participate in the experiment — the Bank of Ayudhya, Siam Commercial Bank and 2C2P. The testing should start at the end of 2022 and last until mid-2023.
A second phase dubbed the “Innovation track” will focus on presenting innovative use cases for CBDC. The private sector and the public will have a chance to present their use cases for Retail CBDC via a"CBDC Hackathon," which will take place Friday, Aug. 5–Sept. 12, 2022. Selected participants will receiv mentorship from experienced financial institutions.
In the meantime, the BOT doesn’t plan to issue Retail CBDC, “as the issuance requires thorough consideration” of risks and benefits for the financial system in general.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible – Finance Bitcoin NewsCentral bank digital currency (CBDC) could be the “holy grail” for cross-border payments, according to the European Central Bank (ECB).
Weiterlesen »
CBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible – Finance Bitcoin NewsCentral bank digital currency (CBDC) could be the “holy grail” for cross-border payments, according to the European Central Bank (ECB).
Weiterlesen »
Investors pull $30 billion out of Pimco as inflation fears biteAssets under management at Pimco have shrunk from 1.510 trillion euros at the end of 2021 to 1.386 trillion by the end of June 2022
Weiterlesen »
Tesla Produced 3 Million EVs, 2 Million Run-Rate By End Of 2022Tesla is cranking up its production efforts in a big way. It's already talking about building more Gigafactories amid upgrades and expansions already underway.
Weiterlesen »
Student Loan Payment Pause Will End Within DaysAfter more than two years of historic student loan relief, the student loan payment pause ends on August 31, 2022 for more than 40 million student loan borrowers.
Weiterlesen »
With Roe v. Wade overturned, Georgia allows pregnant women to claim embryos as dependents — and it may not be the last state to do soGeorgia will allow women carrying an unborn child with “a detectable human heartbeat (which may occur as early as six weeks’ gestation)” to claim a dependent personal exemption worth $3,000 for the fetus.
Weiterlesen »