HSBC and IBM’s joint CBDC Project

 

16th March 2022

HSBC and IBM recently announced that they successfully designed and tested an interoperable multi-ledger CBDC, securities and foreign exchange settlement capability. Session #3’s guests, HSBC’s Mark Williamson and IBM’s Soren Mortensen joined host Will Towning to offer their views and insights into the project, which forms part of the CBDC experimentations led by the Banque de France (BdF) exploring the Digital Euro. The presentation covered:

  • The successful test of an advanced token and digital wallet settlement capability encompassing direct transactions between two central bank digital currencies (CBDCs) in a hybrid cloud environment
  • How the project executed a complex, multi-asset transactional scenario across ledgers
    • Multi-assets: CBDCs, eBonds (primary and secondary DvP), FX (PvP)
    • Ledgers: IBM’s Hyperledger Fabric & R3’s Corda, integrated using IBM’s Research’s Weaver interoperability tool
  • The key to reducing time and market risks and improving security for transactions between central banks, commercial banks and clients.

 

 

Watch the webinar on-demand now:


 

Session #3 Guests

 

 Mark Williamson

Managing Director, Global Head of FX Partnerships and Propositions, HSBC

Throughout his 30+ year career, Mark has traded, run operations and technology, been a COO and successfully delivered transformation programmes in operations, risk, eCommerce and eTrading. Mark’s role is to assess the use of the ABCDE (Ai, Blockchain, Cloud, Data and Ecosystems) across various existing, new and emerging Digital Currencies and Markets. 

 Soren Mortensen

Director of Global Financial Markets, IBM

Soren has over 25 years of Financial Market experience, delivering mission-critical transformational projects for financial institutions. His responsibilities include the complex transformation of financial institutions and innovation in financial markets, leveraging technologies such as Cognitive and Blockchain, and post-trade initiatives around reference data management, collateral management and OTC derivatives processing.

 

Resources and Links

 

  • Could Digital Currency Networks reduce the potency of sanctions placed on Russia? Read more >
  • The US is taking an all-government approach to digital currencies. Read More > 
  • AWS and Oliver Wyman release a retail CBDC design framework. Read More > 
  • The Philippines launch CBDC research effort Read More >
  • The potential effects on the Israeli banking system of issuing a digital shekel Read More >
  • Decoding the rise of the Central Bank Digital Currency in China: Design, Problems and Prospects Read More > 
  • The digital euro from a geopolitical perspective: Will Europe lag behind?  Read More > 

 

IBM and HSBC Linked assets: 

  • HSBC and IBM successfully test multi-ledger CBDC, bond and FX settlement capability Read More > 
  • The Banque de France has successfully completed the first tranche of its experimentation programme in Central Bank Digital Currency Read More > 
  • HSBC and IBM successfully design and test interoperable Multi-ledger Central Bank Digital Currency, Securities and Foreign Exchange Settlement Capability Read More > 

 

Missed our previous sessions? Watch the series on-demand

 

20th July 2022

CBDC Motivations and Challenges – A Perspective from Asia-Pacific

With: Masaki Bessho & Dr Steven Hu

Watch Now >

 

30th June 2022

Central Banks and Private Money: The Past, Present and Future

With: John Kiff & Harish Natarajan

Watch Now >

 

18th May 2022

CBDC Motivations and Challenges – A Perspective from Latin America

With: Ludmilla Butueau Allien & Dr Adolfo Sarmiento

Watch Now >

28th April 2022

CBDC Motivations and Challenges- A Perspective from the UK & Canada

With: Dr Francisco Rivadeneyra & Mehregan Ameri

Watch Now >

16th March 2022

HSBC & IBM’s Joint CBDC Project

With: Mark Williamson & Soren Mortensen

Watch Now >

15th February 2022

Critical policy issues & Lessons Learned from UK and China

With: Jean-Michel Godeffroy & Keith Bear

Watch Now >

11th January 2022

Quantifying the Impact of CBDCs

With: Dr Kimmo Soramäki & Dr Carlos León

Watch Now >

 

 

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