Future Money Is Digital

The Bank for International Settlements (BIS) the central banker’s bank, published a report about Central Bank Digital Currency (CBDC). This Report found 70% of banks are engaged in or about to start CBDC work and of these more than half are exploring both general purpose and wholesale CBDCs.

The BIS defines a CBDC based on four characteristics. A central bank issues it, and it’s digital, not physical. But it’s also conceivable to have general purpose central bank accounts which aren’t tokenized (account-based). If the digital money is tokenized, then there are two potential types: “wholesale” for financial institutions only, and “general purpose” CDBCs which the BIS refers to as “digital cash”.

Many banks are using distributed ledger technology (DLT) to replicate wholesale payment systems. When combining the BIS figures, 48% of respondents are exploring wholesale CBDCs and 61% are exploring general purpose CBDCs.

China’s Digital Yuan

The People’s Bank of China is poised to become the first major central bank to issue a digital version of its currency, the yuan, seeking to keep up with — and control of — a rapidly digitizing economy. We expect many other countries to follow China in offering digital currencies.

Digital Reserve Assets And Digital Currencies

This future money will demand new technology for creating, managing and transferring these digital currencies. This will also create demand for digital reserves assets for Gold, Precious Metals, and Bitcoin. These digital assets can be used to back digital assets thus reducing currency risk.

Digital Reserve Assets

A basket of digital reserve assets held by a corporation, bank, state or national government, etc., to back a digital transactions. Because the transaction is asset backed it reduces counterparty risk.

Digital Reserve Currency

Bitcoin, or a basket of digital assets held by a corporation, bank, state or national government, etc., to back a digital crypto currency. A digital dollar or digital yuan could be introduced to instantly create a new global digital currency network .

Digital Reserve Technology Services

Digital Reserve provides digital reserve digital currency(DRDC) services for governments, corporations and financial institutions to automate core digital reserve processes including cryptocurrency issuance, management, governance and compliance

Digital Reserve Digital Currency (DRDC) Platform

Protocol Layers

Application > Digital Reserve Digital Currency (DRDC)

Request > Account > Reserve > Transfer

Protocol > Digital Reserve Protocol (DRP)

Transport > HTTP > STREAM

Protocol > Interledger

Ledger > XRP > STELLAR > ETHEREUM

Open Reserve Foundation

Open Reserve is an open source project for the building digital reserve digital currency(DRDC) system for financial inclusion. The open reserve foundation will also host hackathons and education events worldwide.

Open Reserve Digital Currency (ORDC) Platform

Protocol Layers

Application > Open Reserve Digital Currency (ORDC)

Request > Account > Reserve > Transfer

Protocol > Open Reserve Protocol (ORP)

Transport > HTTP > STREAM

Protocol > Interledger

Ledger > XRP > STELLAR > ETHEREUM

Contact: Edward Kepler Email: [email protected]