BIS issues comprehensive paper on offline CBDC payments

BIS issues comprehensive paper on offline CBDC payments

According to the Bank for International Settlements, offline payments with CBDC raise new risks related to counterfeiting, fraud and privacy concerns.

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The Bank for International Settlements (BIS) is actively exploring opportunities for offline payments involving a central bank digital currency, or CBDC.

On May 11, the BIS Innovation Hub Nordic Centre published a comprehensive handbook exploring how CBDCs could work for offline payments.

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The guide is written in collaboration with technical consultancy Consult Hyperion, addressing objectives for resilience, cash resemblance, accessibility and other offline CBDC features.

Offline payments and ledger systems. Source: BIS

Titled “Project Polaris,” the paper highlights new potential risks stemming from offline payments with CBDCs, including counterfeit or privacy concerns.

According to BIS and Hyperion, offline CBDC payments pose privacy

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