Central Bank Digital Currency


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

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