Consensys will develop technology for a central bank digital currency proof-of-concept.
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) signed a Memorandum of Understanding in May 2019, initiating Project Inthanon-LionRock to study the application of a central bank digital currency (CBDC) for cross-border payments. Consensys will work on the second implementation phase of the project, with PricewaterhouseCoopers Limited and Forms HK.
Having designed and delivered decentralized payment networks with leading central banks including the Monetary Authority of Singapore and the South African Reserve Bank, Consensys is at the forefront of developing technology that enables digitalization and increased global connectivity of financial markets. Using its enterprise Ethereum stack, Consensys will test solutions that prioritize scalability, security, and interoperability.
“Consensys is thrilled to lead this implementation of CBDC for cross-border payments. We are humbled to work on the development of Hong Kong’s Financial infrastructure,” stated Charles d’Haussy, Director of Hong Kong, Consensys.
Please visit consensys.net for more information on blockchain-based CBDC architectures.