A Guide to Central Bank Digital Currency Product Development

By Hervé Tourpe, Ashley Lannquist, Gabriel Soderberg

September 8, 2023

Preview Citation

Format: Chicago

Hervé Tourpe, Ashley Lannquist, and Gabriel Soderberg. A Guide to Central Bank Digital Currency Product Development, (USA: International Monetary Fund, 2023) accessed December 20, 2024

Summary

As central bank digital currency (CBDC) projects progress around the world, there is increased need for a project management methodology that is appropriate for CBDC. This paper develops a CBDC-specific project management methodology that establishes a common terminology and offers guidance to development teams on best practices for addressing the complex requirements and risks associated with CBDC. It is centered on an original five-step approach called the “5P Methodology”: preparation, proof-of-concept, prototypes, pilots, and production. The methodology emphasizes a phased approach to CBDC research and development, with strong focus on research preparation, experimentation and testing, risk management, stakeholder engagement, and cyber resilience.

Subject: Blockchain and DLT, Central Bank digital currencies, Economic sectors, Smart contracts, Technology

Keywords: Blockchain and DLT, Central Bank digital currencies, Central bank digital currency, Development team, Distributed ledger technology, Global, IMF Fintech Note 2023/007, IMF Library, Product development, Project management, Prototyping, Research and development, Smart contracts, Technology, Technology option

Publication Details

Pages:

44
Volume:

---
DOI:

---
Issue:

---
Series:

Fintech Notes No 2023/007
Stock No:

FTNEA2023007
ISBN:

9798400253690
ISSN:

2664-5912

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Fintech Notes