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Central Bank Digital Currency (CBDC): The Technical Breakdown • John Davies & Lars Hupel
Feb 2, 2024
John Davies and Lars Hupel discuss the technical aspects and potential of Central Bank Digital Currency (CBDC). They explore programming languages and ISO standards in the financial world, challenges of interconnecting services in a microservices architecture, ISO 202 deployment, and the integration and transfer of technology in digital payment systems.
25:29
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Quick takeaways
- CBDCs are distinct from cryptocurrencies and are being explored by central banks to bring physical cash into the digital world, emphasizing the importance of explaining their technology and potential benefits.
- CBDCs enable offline payments and offer advantages over traditional payment systems such as interoperability between different payment rails and the elimination of settlement steps.
Deep dives
The Role of Evangelists in Central Bank Digital Currencies
Lars Hupl, a chief evangelist at GND, explains his role in promoting digital currencies, specifically central bank digital currencies (CBDC). He emphasizes that CBDCs are not the same as cryptocurrencies and that they are investigated by central banks to bring physical cash into the digital world. Lars also highlights the importance of explaining the technology behind CBDCs and their potential benefits, both from an economic and a technical perspective.
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