Saturday, June 17, 2023

"Central Banks Successfully Test Over 30 CBDC Use Cases, Including Offline Payments"

From CoinDesk, June 16:

 An API layer could facilitate a wide range of central bank digital currency payment scenarios, a Bank for International Settlements and Bank of England experiment has shown.

A joint experiment by central banks has tested ways to connect monetary authorities and the private sector to facilitate retail digital currency payments, according to a new report released on Friday.

The experiment saw the London Innovation hub of the Bank for International Settlements – which groups the world’s central banks – and the Bank of England develop 33 application programming interface (API) functionalities to test more than 30 central bank digital currency (CBDC) use cases, including offline payments.

API software allows two or more computer programs to communicate and share data with each other....