Central Bank Digital Currency (CBDC)
transferability, convenience, accessibility, and financial security for business and customers
What is CBDC?
CBDC — digital currency created, backed and controlled by the Central Bank pursuing a number of systemic objectives from financial inclusion to new rails for monetary policy.
The key benefits of CBDC are
Potential to stimulate economic growth, enabling more efficient and faster local and international payments, reducing the need for intermediaries in payment systems.
Enhanced financial inclusion for unbanked persons and businesses by granting them greater access to financial services.
Security and privacy are provided by modern technologies at the “genetic” level.
Transparency and traceability for better control of monetary policy and reduction of illicit activities.
Driver for payment innovations and innovators, competition and integration with other emerging technologies.
Depending on the basic use cases and chosen distribution model there are several types and different combinations of CBDC:
retail CBDC for regular payments between individuals and businesses
wholesale CBDC to facilitate interbank settlement
1 or 2-tier model of distribution
Technical solutions and tools proposed by DCM maintain all known CBDC’s models.
What is the DCM platform for CBDC?
Full cycle of CBDC’s minting, distributing, and burning process
Dashboards and universal integration interfaces (API & SDK) for the Central Bank, banks, service providers, and fintech
KYC/KYB and onboarding tools and interfaces, as well as embedded programmable KYC engine
Pre-developed customer applications for faster start
Solution for smart contracts
The fastest and most efficient way to learn more about DCM platform and make first steps in CBDC consideration and evaluation.
How it works
Step 1. Research, design and testing
Step 2. Implementation
Step 3. Scale-up
The first step is to determine the CBDC model, functions, features and underlying technology. Use DCM’s Sandbox facilitates pre-project stage and allows testing of basic processes with CBDC, control and reporting tools as well as interoperability and interaction with existing software.
Iterative implementation of selective use cases and products, gradual launching of participants and partners, studying feedback from the target market and market niches.
Modularity of DCM Platform allows to prioritize 1-2 key use cases and niche segments to create the best experience for merchants and customers to build trust and best practices.
Monitoring of market adoption and implicit preferences, clarification of needs.
The openness and interoperability of DCM Platform make it possible to launch partners and leverage existing payment infrastructure to accelerate scale-up.
Step 1. Research, design and testing
The first step is to determine the CBDC model, functions, features and underlying technology. Use DCM’s Sandbox facilitates pre-project stage and allows testing of basic processes with CBDC, control and reporting tools as well as interoperability and interaction with existing software.
Step 2. Implementation
Iterative implementation of selective use cases and products, gradual launching of participants and partners, studying feedback from the target market and market niches.
Modularity of DCM Platform allows to prioritize 1-2 key use cases and niche segments to create the best experience for merchants and customers to build trust and best practices.
Step 3. Scale-up
Monitoring of market adoption and implicit preferences, clarification of needs.
The openness and interoperability of DCM Platform make it possible to launch partners and leverage existing payment infrastructure to accelerate scale-up.
Why Open Network?
Booster for Payment Innovations & Fintech
Under the Central Bank’s authority, the Open Network provides the maximum level of resilience and innovation. Easy access to fintech ensures high competition for the best customer services, financial inclusion, and rapid digital ecosystem development.
Security & Trust
Multi-party consensus makes Open Network more resilient to cyber and operational risks and fraudulent data manipulation than the centralised private one.
Interoperability
Services and products interact with each other, existing RTGS directly and via deposit tokens, other CBDCs, or digital assets, enabling successful implementation and integration of the local digital economy in the global digital ecosystem.
Network Resilience
Open Network allows privacy to be set up using embedded features or enables external services to combine public sector transparency and confidentiality where necessary.
Programmability
Programmability provides connected and executed transactions using various conditions: embedded network features as well as external tools for smart contracts.
Financial Inclusion
Various innovative services enable unbanked customers and give them access to digital services and channels.
Robust & Resilient Infrastructure
Diversification of the range of payment options (mainly where cash can’t be used) and avoiding the existing vulnerabilities in the payment system.
Different designs of CBDCs
Open Network allows combining token-based money (cash-like design) with an account-based model and deposit tokens issued by commercial banks for different purposes and use cases under Central Bank’s regulation.
info@dcm.systems
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