Inclusive CBDC design and operating model which may enable financial inclusion, instant accountant settlement, and resilience. 

• Enhanced efficiency and speed of payments-based CBDCs to enable instant and secure payments could reduce the cost and time associated with traditional payment methods.
• Financial inclusion: CBDCs could make it easier and cheaper for people to access and use financial services, which could promote financial inclusion.
• Greater resilience of the financial system: CBDCs financial system resilience.

• Privacy concerns: CBDCs could raise privacy concerns, as central banks would have access to a large amount of data about transactions.

• Cybersecurity risks: CBDCs could be vulnerable to cyberattacks, which could disrupt the financial system.

• Competition with private sector payment providers: CBDCs could compete with private sector payment providers, which could raise concerns about market competition and innovation.

• Governance and oversight: The governance and oversight of CBDCs will need to be carefully considered to ensure that they are operated in a safe, sound, and transparent manner.

Cross-border and cross-chain interoperability of central bank digital currencies (CBDCs) is a crucial aspect of their potential success and widespread adoption

Cross-chain interoperability will enable CBDCs issued by different central banks to communicate and exchange data, facilitating frictionless transactions between different digital assets. 

Cross-border interoperability  will allow CBDCs to integrate with existing payment systems and currencies, enabling seamless cross-border transactions without the complexities of foreign exchange and intermediaries. This would promote financial inclusion, enhance global trade, and reduce remittance costs.

Investigating;

• Atomic swaps: These mechanisms may allow for direct peer-to-peer exchanges of CBDCs without intermediaries, enhancing transaction efficiency.
• Cross-chain bridges: These protocols may enable asset transfers between blockchain networks, facilitating interoperability between CBDCs issued on different chains.
• Blockchain-based oracles: These decentralized data feeds provide reliable and secure information about CBDC balances and exchange rates, enabling smart contracts to execute cross-border transactions.

Identifying and assessing potential risks and benefits: Publications will thoroughly examine the potential risks and benefits of CBDCs, allowing central banks to make informed decisions about whether and how to pursue CBDC issuance.

Evaluating different CBDC design options: Publications will present and analyze various CBDC design options, including considerations for privacy, security, interoperability, and governance, helping central banks choose the most suitable design for their specific context.

Impact on the financial system: Publications will provide the impact of CBDCs on the financial system, including implications for monetary policy, financial stability, and financial inclusion, enabling central banks to mitigate potential risks and maximize benefits.

Lesson Learned Reports: Publications will provide insights into the experiences of other countries that have already issued or are exploring CBDCs, allowing central banks to learn from successes and challenges and make informed decisions based on empirical evidence.

Handbook of CBDC: Publications will offer guidance on developing and implementing CBDCs, including considerations for technology infrastructure, regulatory frameworks, public education, and stakeholder engagement.

Identifying areas for further research: Publications will highlight gaps in knowledge and areas for further research, enabling central banks to prioritize research efforts and address critical questions related to CBDCs.