The Hong Kong Monetary Authority (HKMA) announced joint research with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre for retail Central Bank Digital Currency (CBDC).
“We trust that with the expertise offered by Israel, a global leader in cybersecurity, the findings of the joint project would add to the wealth of knowledge on CBDC and contribute to the common good of the international central banking community,” said Howard Lee, Deputy Chief Executive of the HKMA.
The BISIH Hong Kong Centre will lead project Sela. The project will deeply examine cybersecurity issues in the context of retail CBDC, such as data security implications of a two-tier retail CBDC architecture where the intermediaries will have no financial exposure and pioneer methods of rendering it more resilient to cyber-attacks.
The trio are planning to complete the project by the end of 2022, according to an announcement from HKMA.
Andrew Abir, Deputy...
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