Our Vision
The Future of Digital Currency Initiative will focus on digital currencies of all forms across the entire ecosystem spectrum, from centralized, to decentralized, to hybrids, as well as central bank digital currency (CBDC) and stablecoins--and many others. As of August 2021, more than 80 central banks are exploring some form of digital currency adoption, and increasing numbers of traditional financial ecosystem players and new fintech firms alike are racing to adopt or create their own digital currencies.
There are few to no regulatory and technical standards in this new frontier. The Initiative will undertake research and evaluation of technical and regulatory standards, in collaboration with key government, NGO, and private industry stakeholders, to ensure interoperability, financial ecosystem growth and stability, and financial inclusion.
The Initiative will also study and implement emerging cross-border use cases, affecting both the private and public sectors, related to supply chains, financial markets, banking, digital commerce, charitable giving, and the macroeconomic impact of these emerging digital currency instruments. Just as the digital currency ecosystem is quickly evolving, so too are our areas of research.
Initiative Pillars
Standardization
Standardization focuses on the development of policy objectives, regulatory requirements, and governance norms to advance a standardization roadmap in coordination with standards setting entities, through a consensus driven process.
Engagement
Engagement focuses on engaging a diverse set of stakeholders in the work of the Initiative, sharing lessons learned in the implementations of Digital Currencies, such as Central Bank Digital Currencies, as well as facilitating dialogue between thought-leaders.
Innovation
Innovation focuses on driving industry adoption through developing methods and metrics to evaluate the performance, security and resilience of existing and future implementations of all digital currencies against a set of common requirements accepted by ecosystem stakeholders.