The Boston Federal Reserve Bank and Massachusetts Institute of Technology (MIT) have released technical research and open source code that could serve as the basis for a long-awaited potential digital central bank coin (CBDC).
Boston Fed and MYTH, February 3 for a digital central bank currency (CBDC) as part of the digital currency initiative the findings of the first technological researches published.
Boston Fed Vice Chairman Jim Junha in his statement;
It is critical to understand how emerging technologies can support CBDC and what challenges remain. This collaboration between MIT and our technology experts has created a scalable CBDC research model that allows us to learn more about these technologies and the options to consider when designing a CBDC.
said.
In the published research, long-standing and “Project Hamiltonof the project called flexible and resistant for a potential CBDC by the team in the initial phase focused on software development core rendering engine was created. Also, according to the findings 1.7 million transactions per second A code base has been created. of the code base most transactions in less than two seconds stated to have done.
The MIT and Boston Fed researchers are also for contributions. github“Project Hamilton” in open source code published.
Director of the MIT Digital Currency Initiative Neha Narula;
Many difficulties still remain in deciding whether or how to adopt a central bank payment system for the United States. What is clear is that open source software provides an important avenue for collaboration, experimentation, and implementation. In addition to supporting collaboration, monetary systems benefit from the verifiability and transparency offered by open source.
made statements.