This week Visa published a paper that outlines a potential offline payments solution for central bank digital currencies (CBDC). Most CBDC solutions seek to enable offline payments. For example, the latest Chinese digital yuan trial involved testing offline person-to-person (p2p) payments by touching phones, although it was recently claimed the digital yuan is not a CBDC.
And Japan’s central bank recently explored this offline digital currency payment issue because of its 2011 experience with the Tsunami.
It’s also noteworthy that Visa’s biggest competitor Mastercard launched a platform to enable central banks to test CBDCs. It seems mainstream CBDCs are now a foregone conclusion, so payments networks and technology companies are positioning themselves to land central banks as clients.
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