National Bank of the Republic of Kazakhstan launches CBDC proof-of-concept
The National Bank of the Republic of Kazakhstan (NBK) launched a one-week Digital Tenge central bank digital currency (CBDC) proof-of-concept (PoC) involving NBK staff and local merchants. (This is much like the National Bank of Ukraine 2019 PoC.) The NBK PoC will test basic payment scenarios (e.g., C2B, P2P), non-functional requirements, and programmability. For example, it will test special-purpose tokens on which consumer might purchase only from the “white list” of merchants or products, within particular time period etc. In parallel, the NBK is finalizing its research and development for offline and advanced smart contract deployment on its platform. [Read more on LinkedIn]
Updates:
Day 2: https://www.linkedin.com/posts/binur-zhalenov_digitaltenge-voucher-cbdc-activity-6988129761147408384-ygn9
The International Organization of Securities Commissions (IOSCO) published measures that members should consider when determining their policy and enforcement approaches to retail online offerings and marketing. Part of the risks IOSCO identified include using gamification and other psychological techniques to lure new persons into investing in virtual assets. The IOSCO sees the use of celebrities or influencers to market projects as a major threat, with the report noting that these “finfluencers” can wield a great degree of control for new investors in the space. [Read more at IOSCO]
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.
