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Sample CBDC projects using Hyperledger Technology

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Hyperledger in Action for CBDCs

Hyperledger Besu

Hyperledger Premier Member ConsenSys uses Hyperledger Besu for a Bank of Thailand proof-of-concept prototype for a CBDC project, alongside SCG and Digital Ventures. The private-permissioned network on Hyperledger Besu was designed to meet both the functional and non-functional requirements of a retail CBDC. One of the business cases tested the use of a CBDC to simulate daily commerce, automate payments, and support procurement and financial management system called Procure-to-Pay (B2P) developed by DV. Final report: https://www.bot.or.th/English/FinancialMarkets/ProjectInthanon/Documents/20210308_CBDC.pdf


Bank of Australia has also partnered with ConsenSys to develop a POC for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement, and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform. https://consensys.net/blog/press-release/reserve-bank-of-australia-partners-with-commonwealth-bank-national-australia-bank-consensys-perpetual-on-wholesale-cbdc-project/ 


CBDC pilot using Hyperledger Fabric completed by The central banks of Saudi Arabia and the United Arab Emirates (UAE) found that distributed ledger technology can improve cross-border transactions and meet the demands of financial privacy in a purely digital context. In this report on Project Aber, the two central banks outlined the lessons learned from a yearlong proof-of-concept meant to test the viability of a shared digital currency.


Hyperledger Fabric

Eastern Caribbean Central Bank (ECCB) has launched a pilot retail CBDC called “DCash” using Hyperledger Fabric. Partnering with Bitt Inc., ECCB shared in a recent OECD presentation that it selected Hyperledger Fabric because of its strong security architecture (private permissioned blockchain with strong identity management) and open source code, which contributes to its security, flexibility and scalability among other desired attributes. Also, watch their recent presentation to the Hyperledger Capital Markets SIG.


Fnality, in partnership with Adhara is using Hyperledger Besu for a wholesale payments system representing USD, euro, JPY, GBP and CAD that will allow wholesale banking transactions to happen instantly, cross-border and 24/7. Watch their recent presentation to the Hyperledger Capital Markets SIG.


Hyperledger Iroha

Hyperledger Case Study: The National Bank of Cambodia's Project Bakong boosts financial inclusion with Hyperledger Iroha and was recognized by PwC in their Global CBDC Index as #2 Retail CBDC globally and #1 in Asia. This is the first large-scale quasi-CBDC in productionhttps://www.hyperledger.org/learn/publications/soramitsu-case-study