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Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank DigitalCurrencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesias Project Garuda. Each platform exhibited distinct strengths.
SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Central Bank DigitalCurrencies must therefore be able to work together quickly, easily and securely across national borders.
That means opportunities to wield real-time payments for liquiditymanagement, while the payment rails that facilitate real-time transactions are also embracing the movement of data that can be especially valuable to business end users, he said. TOMIA and Clear Embrace Blockchain for Telecom B2B Payments.
Bank Indonesia has announced the successful completion of the Proof of Concept (PoC) for the wholesale Rupiah Digital under its Garuda Project. This marks a critical milestone in the exploration of a Central Bank DigitalCurrency (CBDC).
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