From CoinTelegraph, January 23:
The Bank for International Settlements 2024 program features six new projects exploring the issues of cybersecurity, fighting financial crime, CBDCs and green finance.
The Bank for International Settlements (BIS) Innovation Hub will proceed to the second phase of its central bank digital currency (CBDC) privacy testing and launch a blockchain-based tokenization project in 2024.
On Jan. 23, the BIS announced its work program for the year. It features six new projects exploring the issues of cybersecurity, fighting financial crime, CBDCs and green finance. In the announcement, Cecilia Skingsley, head of the BIS Innovation Hub, stated that another critical area is tokenization, where the new project, Promissa, will be followed by “more initiatives.”
Related: Basel Committee suggests introducing maturity limits for stablecoin reserve assetsProject Promissa, which is a collaboration between the BIS, the Swiss National Bank and the World Bank, aims to build a proof-of-concept (PoC) of a platform for digital tokenized promissory notes. Promissory notes are the traditional debt or financial instrument legally projecting the obligation of one party to pay a determinate amount of money to another at a certain time. According to the BIS, most promissory notes, which play a prominent role in the financial system, are still paper-based. The BIS hopes to conclude the PoC by early 2025.
Meanwhile, Project Aurum, which is conducted jointly by the BIS and the Hong Kong Monetary Authority (HKMA), will enter a new phase of researching the privacy of retail payments using CBDCs. In 2022, the HKMA completed the wholesale interbank system, e-wallet and a retail CBDC prototype for the Aurum project....
....MUCH MORE
Here's the BIS Innovation Hub
