Status : Research
Usecase : Retail
The Magyar Nemzeti Bank (MNB) launched the Digital Student Safe project to test a retail Central Bank Digital Currency (CBDC) and wallet. The pilot aimed to promote financial inclusion and literacy among students aged eight to fourteen. Students could collect and exchange digital assets like medals and stamps through educational programming. These assets could later be redeemed for toys or sports equipment. The mobile app was released in 2020, and over 700,000 quizzes were completed by school children. The pilot helped the MNB understand the procedural aspects of CBDC development, test operability and scalability, and improve user experience. The MNB plans to further develop the pilot program in 2022-23. Although the MNB did not identify a market gap for widespread CBDC introduction, the pilot served as a testing ground for a digital currency system.
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