Israel, Hong Kong complete retail CBDC test emphasizing privacy, inclusivity

The Bank for International Settlements (BIS) and the central banks of Hong Kong and Israel released the results of Project Sela on Sept. 12. The project was a public-private partnership that used private intermediaries to create a retail central bank digital currency (rCBDC) combining the desirable characteristics of cash and the advantages of digitalization.

The project leveraged the central banks’ diverse experience to incorporate a number of predefined policy, security, technology and…

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