2023-06-28-世界经济论坛-Central_Bank_Digital_Currency_Global_Interoperability_Principles_41页_7mb

Summary of Central Bank Digital Currency Global Interoperability Principles

This white paper examines the design and implementation of central bank digital currencies (CBDCs) with a focus on ensuring global interoperability. It synthesizes input from regional roundtables across Latin America and the Caribbean, Sub-Saharan Africa, Asia-Pacific, Europe, and North America, as well as contributions from multistakeholder dialogues. CBDCs aim to address challenges such as high payment costs, limited access, and inefficiencies in the financial system while promoting financial inclusion, stability, and innovation. However, global CBDC development must balance regional priorities with universal principles to support seamless domestic and cross-border transactions.

Key Motivations and Global Considerations

Interoperability is crucial for enabling efficient and secure payments across different CBDC systems. Key motivations include reducing transaction costs, enhancing financial inclusion, improving payment security, and mitigating risks like cybersecurity threats and currency volatility. Global factors, such as monetary sovereignty, geopolitical risks, and de-dollarization, influence CBDC design. For instance, CBDCs can enhance monetary control but may face challenges from private cryptocurrencies or foreign digital assets. Infrastructure costs and regulatory compliance are critical considerations that vary by region but require harmonization for true interoperability.

Interoperability Principles

The document proposes a set of foundational principles for CBDC interoperability, organized into five categories:

• Governance: Emphasize transparency, accountability, and international cooperation.
• Legal and Regulatory: Ensure compliance with national laws and promote consistent standards.
• Identification and Authentication: Support universal identification and strong authentication methods.
• Payments: Facilitate integration with existing payment systems and automate transactions.
• Technical: Implement robust security measures, standardized messaging, and interoperable APIs.

Recommendations

The paper recommends actions for various stakeholders:

• Central Banks: Foster public-private partnerships and conduct education campaigns.
• Policy-Makers: Promote regulatory consistency and international collaboration.
• Private Sector: Participate in regulatory sandboxes and contribute to standards development.
• Financial Market Infrastructure: Focus on interoperable clearing and settlement systems.

Ultimately, global coordination and adherence to these principles are essential for building a cohesive, interoperable CBDC ecosystem that enhances payment efficiency, financial stability, and digital inclusion.