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Israel & Hong Kong test privacy-focused CBDC for all

In a ground-breaking move that promises to reshape the financial landscape, Israel and Hong Kong’s central banks, in conjunction with the Bank for International Settlements, recently unveiled the findings of Project Sela. This innovative venture sought to create a unique central bank digital currency (CBDC) for retail consumers, embodying the best of both cash and digital functionalities. A powerhouse team of private entities collaborated on this project. At the core of the Sela ecosystem, the CBDC’s ledger remains under the guardianship of the issuing central bank. These ledgers house pseudo-anonymous end-user accounts, ensuring a blend of privacy and traceability.

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