The Bank for International Settlements (BIS) has published a comprehensive handbook exploring how CBDCs could work for offline payments. Titled “Project Polaris”, the paper highlights new potential risks arising from offline payments with CBDCs, including counterfeit or privacy concerns, and also addresses objectives for resilience, cash resemblance, accessibility and other offline CBDC features. It also provides a set of considerations that central banks can use to inform their planning, policy development, technology and business requirements, procurement activities and future operations. The information contained in the paper has been gathered from expert advisers, a survey of central banks, interviews with private-sector companies, meetings with central bank experts and other research. As noted in the paper, it may be updated in future in line with developments with CBDC.
Sources: https://cutt.ly/j6Pxq0l
