MasterCard announced the launch of a platform for testing CBDC. The company's press release states thatusing the new tool, you can see how this or that national cryptocurrency will work in real life.
The platform is a virtual test environment,designed to assess the use cases of national cryptocurrencies. On the platform, you can simulate emissions, distribute settlements between banks, financial service providers and consumers.
“Central banks are actively developing digital currencies due tomany reasons: integration of the financial system and modernization of the payment ecosystem. This platform will help the Central Bank now and in the future to test ways to develop the local and regional economy."Said Raj Damodaran, vice president of MasterCard for digital assets and blockchain.
The platform can be individually adapted to the environment in which the central bank operates.
The ecosystem settings allow:
- Model the ecosystem in which CBDC will be calculated and distributed.
- Show users how CBDC can be used to pay for services and goods.
- Explore different options for the CBDC architecture.
- Evaluate the payment instrument from the technical side.
At the moment, MasterCard is already cooperating with several Central Banks and invites other regulators and third-party companies to participate in the program.
On the basis of what software the platform was created there is no information. It is only known that the platform operates on the blockchain.
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