Enabling Dual Offline Payments for the LIFT Challenge Real Digital




The pace of digital transformation is accelerating innovations in
payments. In order to provide citizens with a secure and reliable form
of digital payment that can be used by everyone, anywhere, anytime, a
trusted form of digital cash is essential. A central bank digital currency
(CBDC) is a public means of payment for the digital world. As a digital
version of money, it is a liability of the central bank and denominated
in the national unit of account. A CBDC would preserve some unique
characteristics of cash, such as privacy and legal tender status, yet
enhanced with features for use in the digital economy.