Proposal of a Regulated Liability Network (RLN) Architecture to Support Settlement of Tokenized Assets, Liabilities and Transactions Using Tokenized Deposits and Wholesale CBDC (Real Digital)

Resumo

This article presents the applicability of the Regulated Liability Network
(RLN) in the settlement of financial transactions obligations through
exchange of tokenized assets, including Real Digital — Wholesale CBDC
(Central Bank Digital Currency). The main themes described in this article
are related to the layers that make up the proposed architecture for Real
Digital in Brazil, from advanced security using confidential computing,
post-quantum cryptography (PQC) for digital signature, multiparty
computing, KYC (Know Your Customer), KYT (Know Your Transaction),
data privacy, and also to propose an interoperability layer, fungibility
between different assets and compatibility between infrastructures
based on distributed ledger technology (DLT) technology. This
architecture must be compatible with EVM (Ethereum Virtual Machine),
based on the guidelines of the Brazilian Central Bank, for DvP (Delivery
versus Payment), PvP (Payment versus Payment) transactions, and even
interoperability with current payment systems, such as PIX (BCB’s faster
payment system) or payments initiation entities via the Open Finance
infrastructure. In summary, we present a feasible architecture designed
to support a multi-assets model and an account-based “regulated
liabilities” capable of supporting a programmable layer, digital money
in the form of tokenized deposits or wholesale CB- DCs (Central bank
digital currencies), “off-chain/on-chain” flow control and “on-chain”