Insights on CBDC, Digital Fiat Currency, Standardization and More

This article summarizes the results of the standardization effort of ITU focus group published in September 2019.

The 2nd ITU Workshop on Digital Fiat Currency and Applications was held at the Cornell University, 18-20 July 2018.

The ITU Workshop focused on three areas of standardization effort: regulatory requirements, technical architectures, and security.

We look forward to meeting again next year for the Second ITU FG-DFC workshop and working meeting.

Last month ushered in an important step toward global recognition for the need to study and standardize the technical components of DFC.

There should be no change to ISO 4217 to accommodate an approved Digital Fiat Currency.