ProgressSoft Showcases CBDC in Washington D.C.

Washington D.C., Feb 26, 2022

ProgressSoft concludes sponsorship of the Banknote and Currency Conference and inaugural Digital Currency Conference in Washington D.C. from 21 to 25 February 2022.

Hundreds of central bankers convened at the Banknote and Currency Conferences which highlighted technological and policy developments for central banks, followed by the inaugural Digital Currency Conference which focused on technology and design aspects of digital currencies.

As sponsor of the events, ProgressSoft was there to present its Blockchain-based Central Bank Digital Currency, including its intricate technologies and capabilities as well as national advisory on economy, regulation and finance.

ProgressSoft also engaged in numerous discussions with central banks on CBDC proof-of-concept and pilot projects including the launch of ProgressSoft’s new CBDC sandbox that allows central banks to experiment with the technology in a controlled environment and understand its usefulness and possibilities for each country. ProgressSoft’s CBDC also gained massive attention for its capabilities to conduct offline transactions, multi-CBDC readiness and co-existence with cash via one-to-one exchange rate with fiat money.

Given its over 32 years of expertise in the payments domain, and as one of few providers worldwide to provide a Blockchain-based CBDC, ProgressSoft took part in an enticing panel discussion on The Roles of Cash and CBDC alongside the Federal Reserve Bank of Philadelphia, CBDC Think Tank, Noll Historical Consulting and C Labs. The panel focused on how CBDCs revolutionize the way payments are made, especially across borders and the use of smart contracts.

This is in addition to a panel session on Interoperability in a Global Economy which focused on the developments of CBDC and its role in enhancing interoperability alongside the International Monetary Fund, Ripple, C Labs and Currency Research.

ProgressSoft was also awarded with the Advancement of Digital Currency award owing to its pioneering Blockchain-based CBDC which has been gaining massive attention from central banks worldwide and during the event.

ProgressSoft is delighted to have met with hundreds of central bankers from over 40 countries interested in taking the next step towards launching the advanced form of national money and looks forward to a fruitful continuation of discussions on CBDC.