Project Dunbar raises ‘more questions than answers’
BIS’s multi-CBDC project focused on qualitative benefits and trialled small-scale cross-border transfers
A common platform operating multiple central bank digital currencies is “technically viable”, Project Dunbar found after it completed its first phase, but the project “raised more questions than answers”.
Cross-border payments can be slow due to multiple foreign exchange controls as well as the need for repeated anti-money laundering checks. The Bank for International Settlements-led Project Dunbar explored how these could be settled on single infrastructure and ledger connecting up many CBDCs
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