The World Economic Forum published a central bank digital currency (CBDC) paper exploring “Global Interoperability Principles”. Interoperability is used in the broadest sense including working with existing payment systems as well as for cross border CBDC.
Much of the report focuses on regional motivations, highlighting common ground. For example, sub-Saharan African countries rank financial inclusion as the number one CBDC driver. But Africa does not consider programmability as a high priority feature, which contrasts with other emerging economies.
The author explores two factors that drove the internet, packet switching and the TCP/IP communication protocol. For CBDC, it suggests communication protocols might use the ISO 20022 financial messaging standard.
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