Digitizing Financial Inclusion: Open Source’s Role in Wholesale CBDC-enabled Real Ti... Paula Hunter
Channel: The Linux Foundation
Date: 2021-11-22

Digitizing Financial Inclusion: Open Source’s Role in Wholesale CBDC-enabled Real Time Payments - Paula Hunter, Mojaloop Foundation

COVID-19 and the rise of contactless payments have prompted many central banks to consider wholesale CBDC as a way of lowering the cost of international payments settlement. Wholesale CBDC, as part of an open source real-time payments system design, has the potential to support financial innovation by offering a wider spectrum of payment capabilities and increased competition across platforms. All of this would contribute to a diversification of national real-time payments systems to serve the unbanked and the economy as a whole. This discussion will look at ways to advance open source real-time payments system design to include wholesale CBDC.