![]() The proposals from the finalists offer unique and innovative technology solutions that could allow CBDCs to be widely adopted. "CBDCs have been attracting strong interest from central banks around the world. The shortlisted teams range from large global corporations to more specialised fintechs. ![]() The 21 finalists were selected from around 100 participating teams from more than 15 countries and jurisdictions. Winners for each of the three categories will be announced in October ahead of the G20 Summit. The shortlisted teams now have until the end of August to complete their prototypes, which will then be judged by an independent expert panel convened by Bank Indonesia. They also participated in a CBDC Masterclass to glean practical insights into some of the CBDC experiments under way at the BIS Innovation Hub. The problem statements prompted participants to develop solutions to build effective and robust means to issue, distribute and transfer CBDCs to enable financial inclusion and to improve interoperability and better connect payment systems.Īs part of the Indonesia Digital Economy and Finance Festival ahead of the meeting of G20 Finance Ministers and Central Bank Governors, the shortlisted teams demonstrated their solutions to Bank Indonesia, the BIS and experts invited from central banks around the world. The BIS Innovation Hub and Bank Indonesia published three operational challenges and invited a wide range of stakeholders, including innovators, entrepreneurs, developers, data scientists and telecommunications experts worldwide to develop innovative technological solutions to them. The 2022 competition was launched in April. The Bank for International Settlements (BIS) and Bank Indonesia, under the Indonesian G20 Presidency, today announced the shortlisted finalists for the G20 TechSprint challenge on central bank digital currencies (CBDCs). Winners to be announced in October ahead of G20 Summit.Competition attracted proposals from a diverse range of competing organisations and teams.Twenty-one teams have been shortlisted, out of almost 100 teams worldwide.If you have any questions about the commenting policy, please let us know through the Contact Page.VideoCardz Moderating Team reserves the right to edit or delete any comments submitted to the site without notice. ![]()
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