The project employed three technologies including Ethereum Quorum in Israel, Hyperledger Besu in Norway, and the Corda network in Sweden.
BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model
Technical Feasibility of Cross-Border Retail CBDC Payments Reportedly Proven in Project Icebreaker Trial asserting that most crypto asset investors lost money over the past seven years. The report highlighted BIS insisting there’s an urgent need for regulating the crypto industry and developing a CBDC.that crypto assets have already lost the battle to central bank-issued fiat currencies. Carstens also emphasized the necessity for central banks to take charge of innovation and create a functional CBDC. “If central banks do not innovate, others will step in,” Carstens cautioned.
“It first allows central banks to have almost full autonomy in designing a domestic retail CBDC,” SkingsleyAccording to the BIS report, implementing Icebreaker in the real world would “require a range of technology” and would need to enhance both privacy and “AML/CFT compliance and monitoring.” The project employed three technologies in each nation state, including Ethereum Quorum in Israel, Hyperledger Besu in Norway, and the Corda network in Sweden.
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