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.

PS-CBDC Sandbox

ProgressSoft presents comprehensive case studies, consultancy services and rollout proposals on top of its full-fledged PS-CBDC solution and offers PS-CBDC sandbox to assist central banks in developing a better understanding of CBDCs and the recommended approaches for each payments ecosystem.

Considering CBDC Sandbox? Contact us at business@progressoft.com

PS-CBDC supports account-based and token-based implementation designs in addition to wholesale CBDC and general-purpose CBDC implementation approaches. PS-CBDC also provides for numerous use cases including interbank settlement, retail and individual payments and identity management.

ProgressSoft CBDC system architects additionally set about rollout proposals and customizations on a case-by-case basis to present the recommended methodology for each central bank.

For implementation consultancy, contact us at business@progressoft.com

PS-CBDC comprises four major modules including identity management and digital wallets that take into consideration issuance, valuation, consensus and peer-to-peer domestic and cross-border payments.

ProgressSoft developed a PS-CBDC mobile wallet Software Development Kit (SDK) which seamlessly connects with any mobile payment application to facilitate a smoother nationwide transition to CBDC where mobile wallets can support both e-money and CBDC.

Request a demo at business@progressoft.com

Let's Connect

Please fill out and submit the following form; a ProgressSoft representative will accordingly contact you to provide direct assistance.

(Friday is an official holiday)

How can we assist you today?

Please fill out and submit the following form in order to receive the PS-CBDC brochure.

PS-CBDC