Kiffmeister’s #Fintech Daily Digest (20221001)

I have updated my tabulation of central bank digital currency (CBDC) explorers with information gleaned from the IMF’s excellent survey-based “Towards CBDCs in Asia and the Pacific: Results of a Regional Survey” Fintech Note. As I reported yesterday, it confirmed that Fiji, Vanuatu, Solomon Islands and Tonga are conducting CBDC feasibility studies with Soramitsu, a Japan-based private-sector technology platform provider. In addition, the note confirmed that Sri Lanka is researching CBDC, and uncovered Mongolia as another CBDC explorer. [Click here to see the updated table]

Iran’s Central Bank Unveils RamzRial

More details are being reported on the central bank digital currency (CBDC) pilot reportedly launched by Iran’s central bank. It’s reportedly a partnership with two local banks (Bank Melli and Mellat Bank) that have have given 1 billion tomans ($311,000) to a limited number of people, and two shops have been designated for the use of the currency. [Read more at Iranwire]

AML by design: Designing a central bank digital currency to stifle money laundering

This article explores how technical CBDC design choices can be used to make a CBDC inherently resistant to money laundering. These design choices not only further anti-money laundering (AML), but they can also help to better balance AML priorities with other goals including financial inclusion, privacy and compliance costs. Moreover, CBDCs provide an opportunity to measure the effectiveness of different design choices in real time. These measurements can facilitate the iterative redesign of CBDCs to identify optimal approaches to meeting regulatory objectives. [Read more at the MIT Science Policy Review]

Tickets available for CBDC Think Tank masterclass

The CBDC Think Tank, in partnership with the IMF and George Washington University, is hosting a full-day in-person CBDC Masterclass on October 12 in Washington DC for “official sector” staff and academics active in the CBDC / digital currency space only. The sessions are designed as instructional deep dives with full presentations and Q&A components.  Tickets are $99. [Register here]

Also, the CBDC Think Tank, in partnership with Georgetown University and the DC FinTech Week, is hosting a FREE (also in-person) Digital Currency Lecture Series, a set of digital currency lightning talks delivered by subject matter experts, on October 14 in Washington DC. [Request an invite here]

Kiffmeister’s Global Central Bank Digital Currency Monthly Monitor

Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So for any of you out there who work for a central bank, ministry of finance or international financial institution who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at chronicles@kiffmeister.com.