A Blockchain-based Framework for Central Bank Digital Currency
Han Xuan1,2; Yuan Yong1,2; Wang Fei-Yue1,2,3
2019-11-07
Conference Name2019 IEEE International Conference on Service Operations and Logistics and Informatics (SOLI 2019)
Conference Date2019-11-7
Conference PlaceZhengzhou, China
Abstract

Cryptocurrency and blockchain technologies have developed in parallel in recent years, with technological breakthroughs in currency issuance, payment methods, and currency storage. However, the existing cryptocurrencies cannot replace fiat money. There is a huge gap between decentralized cryptocurrency and central bank digital currency, namely CBDC, in terms of monetary governance and circulation. In this paper, we propose the function and security requirements of CBDC, through a comprehensive analysis of the existing typical cryptocurrency and the prototype of the CBDC scheme. On this basis, we present a blockchain-based framework for CBDC with three layers, including supervisory layer, network layer and user layer, and describe the key business processes of the CBDC’s entire lifecycle of issuance-circulation-withdrawal in detail. Finally, we take cross-border payment as an example to explain the transaction process of CBDC. We aim to provide theoretical guidance for CBDC design.

KeywordCentral Bank Digital Currency Currency Issurance Currency Circulation Blockchain Cryptocurrency
Document Type会议论文
Identifierhttp://ir.ia.ac.cn/handle/173211/28342
Collection复杂系统管理与控制国家重点实验室_先进控制与自动化
Corresponding AuthorYuan Yong
Affiliation1.The State Key Laboratory for Management and Control of Complex Systems, Institute of Automation, Chinese Academy of Sciences
2.Qingdao Academy of Intelligent Industries
3.Research Center of Military Computational Experiments
First Author AffilicationInstitute of Automation, Chinese Academy of Sciences
Corresponding Author AffilicationInstitute of Automation, Chinese Academy of Sciences
Recommended Citation
GB/T 7714
Han Xuan,Yuan Yong,Wang Fei-Yue. A Blockchain-based Framework for Central Bank Digital Currency[C],2019.
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