imported>Doug Williamson |
imported>Doug Williamson |
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| ''Central bank digital currencies - Bank for International Settlements (BIS).''
| | Risk Appetite Framework. |
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| Project Icebreaker was a joint initiative of the BIS and the central banks of Israel, Norway and Sweden, launched in 2022.
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| It was established to explore how central bank digital currencies (CBDCs) can be used for international retail and remittance payments.
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| :<span style="color:#4B0082">'''''Hub-and-spoke will benefit payers'''''</span>
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| :"As detailed in the report, Project Icebreaker sets out to explore a specific way to interlink domestic systems (a so-called hub-and-spoke solution).
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| :A cross-border transaction is broken down into two domestic payments, facilitated by a foreign exchange provider active in both domestic systems.
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| :Therefore, retail CBDCs never need to leave their own systems.
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| :In most existing cross-border payment systems, the payer has no choice regarding the exchange rate, as it has no control on who the provider of foreign exchange conversion is.
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| :In the model developed by the Icebreaker project, many foreign exchange providers can submit quotes to the system's hub, which automatically selects the cheaper one for the end user."
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| :''Bank for International Settlements - March 2023.''
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| == See also == | | == See also == |
| * [[Bank for International Settlements]] (BIS) | | * [[Risk appetite]] |
| * [[Bitcoin]]
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| * [[Blockchain]]
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| * [[Britcoin]]
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| * [[Central bank]]
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| * [[Central bank digital currency]] (CBDC)
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| * [[Central bank money]]
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| * [[Commercial bank money]]
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| * [[Countering terrorist financing]] (CTF)
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| * [[Crypto-assets]]
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| * [[Cryptocurrency]]
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| * [[Cryptography]]
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| * [[Currency]]
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| * [[Currency substitution]]
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| * [[Deposit]]
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| * [[Digital currency]]
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| * [[Digital Dollar Project]] (DDP)
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| * [[Digital euro]]
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| * [[Digital public money]]
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| * [[Distributed ledger]]
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| * [[e-krona]]
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| * [[e-money]]
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| * [[Ether]]
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| * [[European System of Central Banks]]
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| * [[Fiat currency]]
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| * [[Gold standard]]
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| * [[Hub-and-spoke]]
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| * [[Libra]]
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| * [[Monetary]]
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| * [[Money]]
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| * [[Multi-CBDC arrangement]]
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| * [[Payment Interface Provider]] (PIP)
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| * [[Project Mariana]]
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| * [[Proof of concept]]
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| * [[Retail central bank digital currency]] (rCBDC)
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| * [[Ripple]]
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| * [[Sand Dollar]]
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| * [[Sovereignty]]
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| * [[Stablecoin]]
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| * [[Unbanked]]
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| * [[Under-banked]]
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| * [[Wholesale central bank digital currency]] (wCBDC)
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| ==Other resources==
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| * [https://www.bis.org/about/bisih/topics/cbdc/icebreaker.htm Project Icebreaker concludes experiment for a new architecture for cross-border retail CBDCs]
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| * [https://www.bis.org/publ/othp61.pdf Report - Icebreaker - Breaking new paths in cross-border retail CBDC payments - March 2023]
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| * [https://www.bis.org/about/bisih/topics/cbdc/icebreaker.htm Central banks of Israel, Norway and Sweden team up with the BIS to explore retail CBDC for international payments]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:The_business_context]]
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| [[Category:Financial_products_and_markets]]
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