Summary of the CBDC Technology Forum Meeting – January 2022

Tom Mutton, the Chair, welcomed the Members to the third CBDC Technology Forum meeting. He mentioned the recently published House of Lords Economic Affairs Committee report on CBDC. The Bank presented a summary of the survey results conducted with Forum Members after the previous meeting on November 30, 2021. The survey aimed to gather additional structured thoughts from Members on the topics discussed. At the last meeting, Members found it beneficial to comprehend the pursued objectives and potential use cases for a future CBDC, which would facilitate more detailed technical discussions in the Forum. To support this, the Bank proposed a hypothetical CBDC vision solely for informing the scope of the Forum’s conversations. This vision does not reflect Bank of England policy and may change over time to accommodate other technology discussions. The Bank then provided an overview of account and token-based CBDC systems to set the stage for the discussion. The objective of the session was to compare different ledger data structures across various design areas and understand the advantages and disadvantages of each.

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