The Bank of Thailand has awarded a contract to develop a retail central bank digital currency (CBDC) prototype to Giesecke+Devrient Currency Technology GmbH. Its parent Giesecke+Devrient (G+D), is a major provider of central bank infrastructure.
The award, first reported by the Chinese press, was published on a Thai procurement site and valued the ‘proof of concept’ (PoC) prototype at ten million Baht ($320,000).
While many companies are lobbying to participate in CBDC, the low profile G+D has been in the mix for some time. It developed its Filia solution, which it says “provides privacy to the user while still meeting the required compliance requirements of the central bank in order to prevent money laundering or tax evasion.” The solution gives the central bank the option of a centralized database approach or the use of distributed ledger technology (DLT).
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