Figure 18.7: CBDC architecture for Sweden’s Riksbank

(Source: Riksbank)

Please note that while designing CBDCs, we also have to think of

handling the ownership of digital money, and hence, the digital

identity of individual and organizations too is paramount.

Decentralized digital identity is a highly researched area, especially

for background verification and KYC checks.

18.3.3 Research on CBDC

CBDC is a very hot topic for many countries across the globe, and

over 80% of the central banks of the world are researching on CBDC

at the moment. Some of the most popular ones in this space are as

follows: