The number of CBDC solutions is proliferating and each one is very different. Each tokenized bond issuance appears to be on a new siloed blockchain platform. Rather than viewing this as a problem, this fragmentation is a natural feature of innovation, said Jennifer Lassiter who leads the Digital Dollar Project. She made the point during a CBDC panel at the SIBOS banking conference.
And she’s absolutely right. In the early days of the Internet, startup Mozilla competed with Microsoft’s Internet Explorer to capture the web browser market. This was years before Google appeared on the scene. While standards were in the works, some of them were deliberately ignored in order to push the innovation envelope.
Building websites that looked consistent across browsers was almost impossible. If you wanted a website built you had to specify which web browser the website would look great on. The other one would be just so-so. Once the internet reached a certain level of maturity, consistency became critical and web browsers started to conform to standards.
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