/biz/ - Business & Finance

>>53007877
Reading through it again I will revise this statement:
>BUT it's likely they will still do a test run for approach #3 next year. It would make sense that they'd attempt a serious proof of concept of all three possible structures
They are not going to make an attempt at the third possible layout (all CBDCs operating on a unified layer) due to problems with local jurisdictions, scaling, and getting disparate CBDC structures to agree on a unified ruleset. They say explicitly (highlighted in picrel) that they will be focussing only on structure 1 or 2.
Structure 2, as we've seen ITT, is the Chainlink approach. The drawbacks of Structure 1 are laid out on page 7 in the right hand column. Structure 2 solves for this.

All taken together, it honestly looks like the Chainlink approach to mutli-CBDC communication has won out as the best of the three possible structures laid out by the BIS. It will be very interesting to see what is divulged at SmartCon 2023 in regards to this PoC winning out against the others.
I would not expect the actual product to go live any time soon, 2030 is a realistic timeline for a global CBDC rollout, but if we get confirmation next year that "the Chainlink PoC was the winning structure for the future mutli-CBDC system" then it will be the biggest Chainlink news in its history, by orders of magnitude.