Quarterly Mark December 2023 - 85

APPENDIX A
Central Bank Digital Currency Initiatives
Country
Bahamas
Name
Sand Dollar
Region
Caribbean
Status
Live
Summary
The Sand Dollar project was launched in 2019 and went live on October 20,
2020. It was created to reduce the physical security risks associated with
cash usage. The Sand Dollar is now available to all residents of The Bahamas
and can be utilized at any establishment with a central bank approved
electronic wallet.
Belarus
Cambodia
China
Eastern
Caribbean
Lithuania
-
Bakong
DCEP
DXCD
LBCoin
Europe
Asia
Asia
Caribbean
Europe
Pilot
Pilot
Pilot
Pilot
Pilot
Belarus' central bank announced its pilot program on June 12, 2020.
It began allowing 12 commercial and state-owned banks to issue digital
tokens and utilize them to conduct business.
Cambodia's central bank launched Bakong on October 28, 2020. It is a
real-time interbank payment system built on blockchain technology but does
not involve the exchange of central bank-backed tokens.
China held the second lottery of its CBDC on December 12, 2020. Held in
the city of Suzhou, the trial followed a similar mechanism to the previous
trial in Shenzhen back in October 2020.
The Eastern Caribbean Central Bank (ECCB) launched its pilot program on
March 12, 2019. The ECCB is currently inviting the public to register for
CBDC access as it prepares for the second phase of the pilot.
The Bank of Lithuania (BoL) launched LBCoin on July 11, 2020. The BoL
started working on the project in March 2018 to assess the potential
of a blockchain-based CBDC. The project is currently entering the final
phase of the trial.
Marshall
Islands
Sweden
Marshallese
Sovereign
E-krona
Caribbean
Pilot
The Marshall Islands first revealed its digital currency plan in February
2018. It aims to create an independent coin that will circulate alongside
the USD with a built-in supply mechanism targeting a fixed growth rate
of 4% per year.
Europe
Pilot
The Riksbank first announced its intention to create a pilot program
for E-krona in December 2019. The central bank chose to work with
Accenture and is currently in a pilot process running from February 2020
to February 2021.
Ukraine
Uruguay
Thailand
South
Korea
E-hryvnia
Billete
Digital
-
-
Europe
South
America
Asia
Asia
Pilot
Pilot
Pilot
Pilot
The National Bank of Ukraine (NBU) completed a two-month pilot program
in February 2019. Thus far, there have been no notable new initiatives,
indicating that it is not a priority for the NBU.
The Central Bank of Uruguay completed its pilot program in April 2018.
Thus far, there has been no new announcements and the next steps
remain unclear.
The Bank of Korea launched its 22-month pilot program in April 2020.
It is currently in Phase 2 with a plan to begin distribution in 2021.
The Bank of Thailand (BOT) started its pilot project in August 2018.
The project entered Phase 3 in July 2020 as the BOT partners with big
businesses to test the payment prototype system.
Quarterly Mark | 85
Quarterly Mark December 2023

Table of Contents for the Digital Edition of Quarterly Mark December 2023
