Today the Hong Kong Monetary Authority (HKMA) published a technical paper on its retail central bank digital currency (CBDC) or rCBDC project. It includes a novel privacy approach to CBDC.
As with most CBDC research projects, the central bank emphasized the e-HKD research is exploratory. It also has another initiative with the BIS, Project Aurum, in which it explores the trade offs between an intermediated CBDC and CBDC backed e-money.
Today’s announcement outlines some key design principles such as safety, efficiency and openness. It also marks the launch of a public consultation.
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