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新加坡金融管理局高管表示,CBDC所缺少的只是中央银行的决定

2020-7-24 13:08

 

今天,新加坡金融管理局首席金融科技官Sopnendu Mohanty在区块链企业R3举办的网络研讨会上谈到了批发央行数字货币(CBDC)的状况。Mohanty说,技术问题已经基本解决,金融部门已经准备好使用数字货币的分布式账本技术(DLT)平台。


“我们缺少的是央行向网络发行数字货币的决定,”莫汉蒂说。“我认为这需要一些时间,但希望尽快。”


有许多区块链平台已经在生产或即将投产,从贸易融资到股票交易,如瑞士的SIX Digital Exchange (SDX)和澳大利亚证券交易所(ASX)。


莫汉蒂指出,这些平台“需要一个兼容的支付系统。而这种兼容的支付系统不可能是我们今天所拥有的。他解释说,目前的系统只关注支付,与相关证券交易没有关联。而“智能合同将其结合在一起,使其更加安全和分散。”


莫汉蒂还宣称:“不要再做实验了,因为生产的道路已经很清楚了。在此之前,MAS项目Ubin阶段五的付款测试报告也发表了同样的观点。


金管局高管的紧迫感显而易见。他指出,中国已经在贸易融资和供应链区块链上处理了数百亿美元。他没有提到在他自己的后院就有一家公司,那就是新加坡的贸易融资平台dltledgers,该公司已经宣称已经达到了数十亿美元的规模。


“随着区块链的转移,生产已经准备就绪。为什么我们在建立一个与这种新方式相兼容的支付系统方面落后了呢?必须有紧迫感。”


至于瑞士的SDX,此前有消息称,瑞士央行(Swiss National Bank)正在为SDX的证券结算试验CBDC。央行代表Nino Landerer强调,这是一个概念的证明,有两条可能的路径。一种是将数字货币置于链上,另一种是将DLT与现有的支付轨道(实时总结算(RTGS)系统)集成。


瑞士已经拥有一个高效率、流动性强、交易对手风险较低的证券结算系统,这是一个相对不同寻常的位置。自1992年以来,瑞士的结算一直通过SECOM系统进行,该系统使用与主要银行间支付系统(SIC)相同的现金池进行即时支付。因此,对于瑞士金融体系来说,与其他国家相比,通过两天证券结算的收益是不一样的。Landerer表示:“因此基准利率相当高。”


瑞士还有另一个不同寻常的特点:SIX是瑞士主要的证券交易所,它代表瑞士央行运营SECOM支付系统,正如SIX的蒂姆•格兰特(Tim Grant)所指出的,他是SDX平台的负责人。因此SIX能够自己完成支付集成工作。Grant将SIX数字交换解决方案描述为“与现有基础设施并行建设”。我们正在打造下一代交易、发行、结算和托管平台。”


但央行的兰德勒指出了一条似乎很长的路。他说,任何新的架构都需要与现有的支付系统(如即时支付系统)、不同的DLT平台和国际上的互操作性。这需要大量的协调。


埃森哲CBDC负责人约翰•韦利萨里奥斯提出了这一协调挑战。概念的证明涉及的人相对较少。在准备生产平台时,涉众的数量要多得多。所以最大的挑战不是技术上的。Velissarios说,这是“让所有人聚在一起,就下一步骤达成共识,就每个人的角色达成共识。”


埃森哲的高管应该知道。他领导了加拿大的Jasper项目;他负责埃森哲团队在欧洲央行(ecb)的欧洲链项目(EUROchain project)中的工作,瑞典央行(RiksBank) CBDC的工作,以及埃森哲团队在最近宣布的法国央行(Banque de France)试点项目中的工作。


Velissarios同意互操作性需求,并将其分为技术和功能两部分。在技术方面,使令牌能够跨不同区块链架构传输只是正在研究的一个方面。


但是MAS的Mohanty认为,目前所需要的只是对不同党派或标准进行分类。他说:“专注于互操作性可能会推迟我们(CBDC)的讨论。”“正确分类,剩下的就会跟上来。”

 

Today, the Monetary Authority of Singapore’s Chief Fintech Officer Sopnendu Mohanty, spoke about the state of wholesale central bank digital currencies (CBDC) in a webinar hosted by enterprise blockchain firm R3. Mohanty said that the technology issues are largely solved and the financial sector has distributed ledger technology (DLT) platforms ready to use a digital currency.  

“What we’re missing is the decision of a central bank to issue a digital currency into the network,” said Mohanty. “I think it will take some time, but hopefully as soon as possible.”

There are numerous blockchain platforms either already in production or nearing production ranging from trade finance to stock transactions such as Switzerland’s SIX Digital Exchange (SDX) and the Australian Securities Exchange (ASX). 

Mohanty noted that these platforms “need a compatible payment system. And that compatible payment system cannot be what we have today.” He explained that current systems only focus on the payment and have no link to the related securities transaction. Whereas “smart contracts bring it together making it much more secure and decentralized.”

Mohanty also declared: “No more experiments, because the path to production is very clear.” This follows the publication of the MAS Project Ubin stage five report on payments tests, which made the same point.

The MAS executive’s sense of urgency was palpable. He noted the tens of billions that China is already processing on its trade finance and supply chain blockchains. He didn’t mention one in his own back yard, Singapore’s trade finance platform dltledgers, which already claims to have reached the multi-billion mark.

“This is already production ready with transfers happening on the blockchain. Why are we lagging with putting in place a payment system which is compatible with this new way of doing things? That urgency has to be there,” said Mohanty.

Turning to Switzerland’s SDX, it was previously announced that the Swiss National Bank is trialing a CBDC for SDX securities settlement. The central bank’s representative Nino Landerer emphasized it was a proof of concept and there are two potential paths. One is to put the digital currency on chain, and the other is to integrate the DLT with the existing payment rails, the Real Time Gross Settlement (RTGS) system.

Switzerland is in a relatively unusual position of already having a highly efficient, liquid and lower counterparty risk securities settlement system. Since 1992, settlement in Switzerland has been via the SECOM system, which uses instant payments with the same pool of cash as the main interbank payments system (SIC). Hence, for the Swiss system, there aren’t the same gains to be made compared to other nations with two day securities settlement. “So the benchmark is quite high,” said the central bank’s Landerer.

There’s another unusual Swiss feature: SIX, the country’s main stock exchange, operates the SECOM payment system on behalf of the central bank, as pointed out by SIX’s Tim Grant, who leads the SDX platform. Hence SIX is able to do the payments integration work itself. Grant described the SIX Digital Exchange solution as “building in parallel to the existing infrastructure. We’re building a next generation, trading, issuance, settlement and custody platform.”

But the central bank’s Landerer outlined what appears to be a long path. He said any new architecture needs interoperability with existing payment systems such as the RTGS, with different DLT platforms and internationally. That requires significant coordination.

This coordination challenge was raised by Accenture’s CBDC lead John Velissarios. Proofs of concept involve relatively few people. When preparing a platform for production, the number of stakeholders is far higher. So the biggest challenge is not technical. It’s “getting everybody together to actually agree on what the next step is, agree what everybody’s role is going to be,” said Velissarios. 

And the Accenture executive should know. He led Canada’s Project Jasper work; he runs the Accenture team in the European Central Bank’s EUROchain project, Sweden’s RiksBank CBDC work, and the Accenture team in the recently announced Banque de France trials.

Velissarios agreed with the interoperability requirements and divided them into both technical and functional. On the technical side, making tokens capable of transfer across different blockchain architectures is just one aspect being explored.

But MAS’ Mohanty believes that, for now, all that’s needed is a taxonomy  between different parties or standards. “Focusing on interoperability can delay our (CBDC) discussions,” he said. “Get the taxonomy right, the rest will follow.”

 

来自: Ledger Insights