Negara Bank Malaysia has pledged to investigate the CBDC situation.

Malaysia has joined the category of countries exploring the value of central bank digital currency (CBDC) research and development.

Bank Negara Malaysia (Bank Negara Malaysia) said in an interview with Bloomberg on January 17 that it has not yet decided exactly how it will set up the CBDC, but that it is “focusing its research on the CBDC”. Ideas and experiences”…

He also said that the main reason for the current search is to ensure that they plan to develop a CBDC project "if there is a need to leave the CBDC in the future".

According to the report, Malaysia has developed a proof-of-concept CBDC pilot project called Project Dunbar in 2021 in collaboration with South Africa, Australia and its East Asian partners in Singapore. .

The Dunbar project leverages the Corda and Quorum blockchain platforms of r3 and ConsenSys, respectively, to demonstrate different capabilities for blockchain-based cross-border funds transfers. In particular, he shows how blockchain technology "reduces the needs of the average person and reduces transaction times and costs".

More and more countries are looking for ways for CBDC operations to operate in their territory. Currently, China is the largest country currently using the CBDC pilot project, and the digital yuan mobile app has been downloaded over 20 million times since January 4. China plans to announce the project during the Summer Olympics in Beijing next month, allowing international tourists to use passports to enter the digital yuan.

The Eastern Caribbean Central Bank (ECCB) announced the final version of the CBDC “EC Dollar” in March 2021. As of December 2021, Antigua is the end of eight ECCB laws prohibiting the adoption of the EC dollar. Neighborhood Jamaica also plans to announce the final CBDC in the first quarter of 2022 after completing a trial two weeks ago.