Central Bank Digital Currency (CBDC)

Media Briefingวันที่ 15 กรกฎาคม 2563

2/7

Development of payment

Physical notes Electronics payment Digital money

• Secure, resilient • Universal accessible• Private• Legal claims• Low value payment• Cannot make a purchase

remotely

Key Properties

• Secure, resilient • Universal accessible• Private• Legal claims• High value payment• Can make a purchase

remotelySolve these issues

Maintain trust by intermediaries

• Secure, resilient • Universal accessible• Private• Legal claims• Low value payment• Cannot make a purchase

remotely

Reduce roles of intermediaries

“Cost” “Reduce Cost”

Financial Institutions

Source: Bank of Canada

Why Distributed Ledger Technology?

Centralized Network Distributed NetworkWhere are we in this spectrum for “CBDC” ?

Trust is made by one person

CryptocurrencyElectronics money

Picture source: https://nesad.us/nesad-network/collective-intelligence/

Trust is provided by network

3/7

Explore DLT-based RTGS Enhance DLT

functionalities Extend network

Phase 1 Phase 2 Phase 3

• A prototype of

decentralized RTGS

• Key functionalities

- Cash/Bond tokenization

- Bilateral Transfers

- Queuing Mechanisms

- Gridlock Resolution

- Automated Liquidity Provision

• Fraud prevention for 3rd

party funds transfer

• Compliance for non-

resident regulation

• Bond life-cycle

(Interbank bond trading

and Repo)

• Cross-border fund transfer

Aug 18 Jan 19 Sept 19 Jan 20

Project Inthanon: Phase 1, 2 & 3(Wholesale CBDC)

4/7

What is next?

Project Inthanon: Phase

CBDC Network

Issue CBDC

Cross-border gateway(PvP)

1 2

3

1

CBDC for corporate• Expect new use cases of CBDC from corporate level• Explore new design for distributing CBDC to corporate level• Evaluate the implication to financial institutions

4 4

2 3

Wholesale level

Corporate/Retail level

5/7

Collaboration is a key success factor

“participation in the strategic

direction of an industry

transforming initiative”

“collaboratively developed application”

“upskilled team in DLT and Wholesale CDBC”

6/7

Inthanon Phase 1, 2 & 3(Public papers)

7/7