The payments player aims to create a CBDC sandbox, available in the spring of 2022, where central banks can experiment with distributing the technology after minting on Consensys' Quorum protocol.
The partnership uses a ‘two-tier’ distribution model for CBDCs. Central banks would design their digital currency on Consensys' Quorum where they would set its monetary and governance rules. They then use Visa’s infrastructure to distribute the currency via financial intermediaries like commercial banks. Central banks will likely prefer to manage the payment infrastructure themselves.
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