Kiffmeister’s #Fintech Daily Digest (01/11/2022)

The Bank for International Settlements (BIS) updated its database of central bank digital currency (CBDC) projects. It’s very well organized and some of the updates have been incorporated into my real-time tabulation. I had some CBDC projects misclassified as “research” when they are actually undergoing proof-of-concept work (Hungary, Kazakhstan, Russia, Thailand). However, I question the inclusion of Venezuela’s Bolívar Digital since it seems that it was nothing more than a removal of zeros from the country’s currency. [Read more

Framework for Facilitating Small Value Digital Payments in Offline Mode

The Reserve Bank of India (RBI) has introduced a framework to enable small value digital payments in offline mode using cards, wallets, mobile devices, etc. in proximity (face to face) mode.  This followed pilot testing undertaken by some entities between September 2020 and July 2021. The upper limit of an offline payment transaction shall be ₹200. The total limit for offline transactions on a payment instrument shall be ₹2,000 at any point in time. Replenishment of used limit shall be allowed only in online mode with an Additional Factor of Authentication (AFA). The issuer shall send transaction alerts to users as soon as transaction details are received, implying that an online connection is required at some point, so it’s not a purely offline payment system. [Read more]

To get these updates sent to your inbox, please sign up here. Also, for those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks:

Central Bank Digital Currency Workshop, hosted by the CBDC Think Tank 

The Central Bank Digital Currency Think Tank (CBDCTT)  is hosting an in-person CBDC Workshop in Washington DC on February 24. It’s an intensive and hands-on CBDC course for central bank leadership and staff that are looking to understand and position for CBDCs. The workshop is a mix of lectures from CBDC experts and hands-on exercises. Certification of completion will be provided by the CBDCTT. Note that it is open only to central bank staff and finance ministries! [Register here]