TechFlow news: The Bank for International Settlements (BIS) Innovation Hub has announced plans to launch a blockchain-based tokenization initiative and further develop privacy testing for central bank digital currencies (CBDCs).
BIS has announced six new projects, covering cybersecurity, combating financial crime, CBDCs, and green finance. One of the new initiatives is the "Project Promissa," a collaboration between BIS, the Swiss National Bank, and the World Bank, aiming to develop a digital, tokenized promissory note platform.
Promissory notes are financial instruments that largely remain in paper form today. BIS plans to complete the proof-of-concept for this project by early 2025.
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