Kiffmeister’s #Fintech Daily Digest (20230124)

The December 2022 Update on global CBDC developments

Atakan Kavuklu has provided a nice update of central bank digital currency (CBDC) developments covered in the December 2022 update to the database. [Read it at Medium]

The Saudi Central Bank (SAMA) continues CBDC experimentations

The Saudi Central Bank (SAMA) is working on a phase of a project that focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs. SAMA stressed that although no decision has been made regarding the introduction of CBDC in the Kingdom, it continues to focus on exploring the benefits and potential risks of implementing CBDC. [Read more at SAMA]

The digital euro: our money wherever, whenever we need it

Introductory statement by Fabio Panetta, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament: “Our priority for the digital euro project… is to preserve the role of central bank money in retail payments by offering an additional option for paying with public money, including where this is not possible today, for example in e-commerce. The digital euro would not replace other electronic payment methods, or indeed cash. Rather, it would complement them. And by doing so, it would safeguard our monetary sovereignty while strengthening Europe’s strategic autonomy.” [Read the whole speech here]

Jamaica’s JAM-DEX CBDC facilitates select government wage payments

The Bank of Jamaica (BOJ) successfully used its JAM-DEX CBDC to pay wages to, and conduct of transactions by, select workers employed in the Christmas Work Programme from December 19 to 23, 2022. This involved  onboarding three contractors, more than 100 workers and 70 small merchants to the Lynk app within select communities. Onboarded merchants were primarily market vendors and owners of food shops, restaurants and bars. [Read more at the BOJ]

Norway government to use public blockchain to track SME stock ownership

BRØK, the Norwegian government public blockchain-based platform to track unlisted stock ownership, has moved into the sandbox phase. It is using Arbitrum, a layer 2 scaling solution for Ethereum with lower transaction costs. The solution is GDPR compliant, so personal information is not stored directly on the blockchain. However, it uses the Ceramic protocol for the personal information, an open distributed database that allows for data to be deleted and corrected, as required by GDPR. [Read more at Ledger Insights]

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

The Sovereign Official Digital Association (SODA) is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA believes institutions in the existing financial ecosystem should have access to the tools and resources they need to move from discussion to action. SODA offers ‘real life’ use cases to help test digital money and drive adoption as central banks and other public institutions explore the future of a more financially inclusive world powered by interoperable blockchain-based networks. SODA would love you to join us on this journey – please get in touch (

Satoshi Capital Advisors is a New York-based, global advisory firm that works with central banks, governments, and the private sector to architect, implement, and operate varying initiatives. Satoshi Capital Advisors’ central bank work revolves around CBDC architecture and implementation, providing advisory services from research phase through to growth phase. Utilizing a product-market fit and technology agnostic approach to CBDC architecture and implementation enables Satoshi Capital Advisors to build tailored solutions, bespoke to local financial system nuances. Satoshi Capital Advisors welcomes requests from central bank officials for virtual and in-person CBDC workshops. [Click here for more information]

WhisperCash offers the first fully offline digital currency platform that has the same properties as physical cash. It can perform secure consecutive offline payments without compromising on security, privacy or accessibility. WhisperCash allows direct person to person offline payments without any server infrastructure or internet connectivity. It comes in various form factors including the self-contained credit card-sized “Pro” that sports an eInk screen and capacitive keyboard, and lasts for two weeks between recharges assuming a few transactions per day. [Click here for more information]