The best way for central banks to prepare for this future of payments is to explore, experiment, conduct proofs of concept, pilot and develop CBDCs. In practice, we need to understand how policy goals, practical issues and technology intersect. "While the need to explore CBDC is inevitably high for central banks, design choices are still unresolved. We look forward to seeing the fully developed solutions," said Ross Leckow, Acting Head of the BIS Innovation Hub.
This highlights the G20 TechSprint's role in bringing together innovators and the central banking and regulatory community. The proposals from the finalists offer unique and innovative technology solutions that could allow CBDCs to be widely adopted. "CBDCs have been attracting strong interest from central banks around the world. The shortlisted teams range from large global corporations to more specialised fintechs. The 21 finalists were selected from around 100 participating teams from more than 15 countries and jurisdictions. Winners for each of the three categories will be announced in October ahead of the G20 Summit. The shortlisted teams now have until the end of August to complete their prototypes, which will then be judged by an independent expert panel convened by Bank Indonesia. They also participated in a CBDC Masterclass to glean practical insights into some of the CBDC experiments under way at the BIS Innovation Hub. The problem statements prompted participants to develop solutions to build effective and robust means to issue, distribute and transfer CBDCs to enable financial inclusion and to improve interoperability and better connect payment systems.Īs part of the Indonesia Digital Economy and Finance Festival ahead of the meeting of G20 Finance Ministers and Central Bank Governors, the shortlisted teams demonstrated their solutions to Bank Indonesia, the BIS and experts invited from central banks around the world. The BIS Innovation Hub and Bank Indonesia published three operational challenges and invited a wide range of stakeholders, including innovators, entrepreneurs, developers, data scientists and telecommunications experts worldwide to develop innovative technological solutions to them. The 2022 competition was launched in April. The Bank for International Settlements (BIS) and Bank Indonesia, under the Indonesian G20 Presidency, today announced the shortlisted finalists for the G20 TechSprint challenge on central bank digital currencies (CBDCs).
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PLAYLINKS CEO Lim, Sang-beom stated, "PLAYLINKS produces casual games available in various digital devices, and our casual golf game 'KITTY GOLF' will provide unique and fun experience by giving room for unconstrained, creative play in every stage."Ī game of golf and intellect, 'KITTY GOLF' is available for everyone on Facebook Instant Games free of charge. It is expected to promote friendly relations and competitions by allowing people to participate in tournaments and enjoy real-time ranking with game users including friends from SNS. 'KITTY GOLF' showcased over 50 different challenging golf stages played with actual golf rules, some of which involved reduction of carry distance when the ball falls into a bunker, and penalty applied when the ball is in a hazard.
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