Central Bank Digital Currency

PS-CBDC

ProgressSoft’s Blockchain-based Central Bank Digital Currency is an advanced, secure form of regulated national digital currency built on advanced blockchain technology and authorized by the central bank. The solution maintains a one-to-one exchange rate with fiat money.

At a glance

ProgressSoft has been exerting massive efforts and concurring with renowned international consultants to provide central banks with an exemplary CBDC solution.

Today, PS-CBDC encompasses open integrators and built-in smart contracts in addition to modular and auto-scalable components designed to satisfy multifold payment ecosystems and implementation approaches by central banks, furnishing a secure, tailored and advanced CBDC.

Advantages of PS-CBDC

PS-CBDC provides central banks and prominent financial institutions with advantageous capabilities to:

• Enhance financial integrity through compliance with AML/CFT and KYC procedures
• Facilitate financial inclusion through serving all community parties and supporting all types of payments
• Enhance financial market monitoring and the implementation of monetary policies through transparent knowledge of size, pace and distribution of credit by sector
• Provide transactions privacy between transacting parties
• Eliminate implied costs and risks of cash
• Present a new paradigm of invincible security in financial transactions
• Serve as a costless medium of exchange, secure store of value and stable unit of account

Why opt for PS-CBDC?

ProgressSoft’s CBDC is a bespoke solution in which the central bank is involved in all phases of development. Elaborate system components are also considered in PS-CBDC to contain the advantageous capabilities of conventional CBDCs while maintaining adaptability to multifold strategies by central banks.

Secure Design

PS-CBDC runs on top of a permissioned (private) blockchain network that presents immutable ledgers of all transactions and money movements. Nodes in the blockchain network cannot be manipulated, deprive a single point of failure and central bank authorization is required to add or exclude them from the network.

All channels between blockchain nodes in PS-CBDC are also encrypted, enabling utmost security in the network.