- The Federal Reserve Bank of New York's New York Innovation Center published the findings of a 12-week proof of concept that explored the feasibility of a regulated liability network , a theoretical payment infrastructure designed to support the exchange and settlement of regulated digital assets, including a digital dollar.
"From a central banking perspective, the proof of concept was conducive to exploring tokenized regulated deposits and understanding the potential functional benefits of central bank and commercial bank digital money operating together on a shared ledger," said Per von Zelowitz, Director of the New York Innovation Center in the announcement.
The technical workstream “validated that the proposed architecture was able to deliver the benefits of settlement finality, a common source of truth, standard transaction data, and privacy for all participants on the network,” they said. “Including a theoretical wCBDC and commercial bank deposit tokens on the same platform enabled a shared ledger to settle payment transactions simultaneously and in near real-time.