Source of the news: Eesti Pank’s press releases.
Eesti Pank has launched a project in collaboration with the technology companies Guardtime and The SW7 Group to research how technologically suitable the Estonian e-government core technology is for operating a central bank digital currency.
The aim of the research project is to investigate how suitable a solution based on the KSI Blockchain, a core technology of e-government in Estonia, could be for operating the digital money infrastructure of a central bank. The same project will also examine new payment solutions that could be made possible by using electronic identity and other Estonian e-government solutions. The research project will not make choices about the use of specific individual technologies.
The joint research program of Eesti Pank, Guardtime, and SW7 will run in multiple phases and is initially planned to last for around two years. The first phase will determine how to architect a scalable, practically useable, and cryptographically secure platform to meet the needs of a central bank digital currency, including stringent requirements for speed, security, privacy, and resilience.
Link to Eesti Pank