In 2022, the digital banking industry will begin a "wave" of experimental work, and many countries will announce the programming schedule.

Several large retailers of digital money supply pilot projects (hereinafter referred to as "CBDC") will be launched in 2022. New markets, including Brazil, India, Indonesia and other countries have new markets, ready to start CBDC pilot operations later this year, with more countries launching CBDC pilots The results of the CBDC research phase.

According to the world's first CBDC report, the Bahamian "sand dollar" has been online for more than a year, but it has problems such as low number of start-ups to identify digital wallets and bad water. . Insiders believe that the pre-operational trial of the CBDC as a new breed of electricity retailers is crucial to ensure security and improve revenue, if payment for CBDC events is to be further expanded.

From the perspective of the agreement, CBDC's R&D approach reflects the concept of openness, non-compliance with special technology, and being influenced by account structure that may be compromised or distribution, a another focus on blockchain technology research and implementation.

Bahamian Sand Dollar: Need for Security and Performance Improvements

In October 2020, the Bahamas 'sand dollar' was announced to 400,000 people nationwide by a financial institution. In the first global CBDC index released by PricewaterhouseCoopers, the Bahamian "sand dollar" was first in the stock market with a score of 92.

Similar to the hierarchical wallet of “different levels of recognition and different policies” adopted by our national digital renminbi, the Bahamian “sand dollar” digital wallet received the second standard two. Among them, level 1 wallets do not need to provide a personal statement, and the upper limit of the wallet and the monthly exchange limit are 500 Bahams and 1500 Bahams respectively. Wallets (Tier 2) require proof of identity, bank deposit, wallet balance up to B8,000 and monthly collection limit up to B10,000. .

In view of the real benefits of a year's work, it is necessary to improve the income of the "sand dollar". The Federal Reserve previously released data showing that the "sand dollar" in exports since August 2021 was 272,500 Bahamian dollars, or just 0.05% of the currency in circulation. Wallet security also poses a challenge.

"The CBDC's first home wallet screening is very loose, so over time there may be criminals using digital wallets to manipulate them," said a digital money analyst. Another key risk secret, the financial partners said, is that the Bahamas is a "security tax." Without the best security in place, domestic CBDCs could also become a new way for outside businesses to launder and run out of money illegally. .

Regarding the inability of the Bahamas "sand dollar", in the opinion of the above, the main reason why the country's roads run so fast (about 11 months) and small program. New payment method.

Also announced with the Bahamas in October 2020, "Sand Dollar" is the Cambodian "Bakong". According to the official 'Bacon' website, a total of 30 banks and electronic payment offices are now involved in the operation. A recent report by PricewaterhouseCoopers pointed out that the objective of Cambodia's “Bakong” is to stimulate the economy.

Smaller companies preemptively “betting” on CBDCs in the eyes of the insider market are driven by their own circumstances. The Bahamas, for example, is a country of more than 700 islands, 30 of which are inhabited, and more than 2,400 coral reefs. Due to their high cost, one of the design principles of CBDCs is to reduce the initial cost to provide public access to financial services and financial inclusion.

Additionally, one of the characteristics of the Bahamas and Cambodia, accomplished by the announcement of the CBDCs, is that their revenues are tied to the US dollar, which is affected by the fact that the Bahamian dollar trades with the US dollar. With a fixed 1:1 exchange rate, Cambodian household savings increased by more than 50% throughout the year. . In light of this, some in the industry have taken advantage of the CBDC's domestic demand considering tax audit coverage as the US dollar has risen domestically and from small businesses.

The technology is very open, usually in two stages.

Following the establishment, a Treasury Department reporter reported that there are currently no more CBDC announcements or trials, and other work is still being investigated before or opinion evidence.

Compared to the single-tier model in which the central bank brought CBDCs directly to the public, most central banks have already begun or plan to support experimental plans to combat financial interference. Financial Interference Blocking uses a dual-layered operating system. - A hierarchical process that transforms the CBDC and distributes services to the public through the formation of corporations, payment and outsourcing corporations, communications corporations, and corporations.

Cheng Shi, commercial director and general manager of ICBC International, pointed out in an article that two-tier operations drawn from others' strengths do not affect businesses. Exchanges, redemptions and delivery offers are also sent to businesses and are carried out by intermediaries who work better for consumers.

Central banks in some industries believe that CBDC research and development will not pre-establish the technology. Among them, whether the system of accounts accepts a neutral or a distributed model, the ECB decides on both. In centralized mode, users can deposit and withdraw digital euros of different types of currencies on electronic exchanges and pay with digital euros. The exchange of digital euros between users does not necessarily allow third parties to play a role in the exchange.

The Riksbank's 2021 annual payroll report indicates that with the advent of new technologies, the future prospects of DLT in CBDCs still need to be explored further. Therefore, the National Central Bank, including DLT, is an important research element to measure whether it can meet the requirements and deposit laws in the second phase of proof of concept - ideas. Although the date of the CBDC show has not yet been determined, it is exploring ways to implement blockchain technology for the CBDC.