Project Dunbar project
Overview
Project Dunbar was a multi-CBDC experiment led by the BIS Innovation Hub together with the Reserve Bank of Australia, Bank Negara Malaysia, the Monetary Authority of Singapore and the South African Reserve Bank, with its report published on 22 March 2022. The project examined how a common settlement platform holding several central bank digital currencies could make cross-border payments cheaper, faster and safer by letting participating banks transact directly in multiple central bank currencies rather than routing through correspondent banking chains. Two working technical prototypes were built, on the Corda and Partior platforms, to validate the shared multi-CBDC concept. The work identified the practical obstacles to such a platform - notably questions of access for foreign banks, jurisdictional and legal boundaries, and shared governance - and proposed design approaches to address them. Its conclusion was that a shared multi-CBDC platform is technically feasible, with the harder problems being governance and policy rather than technology. Project Dunbar was one of the BIS Innovation Hub's flagship cross-border CBDC projects and reported its findings on 22 March 2022 after building prototypes with Corda and Partior.
Within the DeFi Intel graph, Project Dunbar connects to 8 tracked entities, most strongly to BIS Innovation Hub, South African Reserve Bank, Monetary Authority of Singapore.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 8 total).
| Relation | Connected entity | Confidence |
|---|---|---|
launched | BIS Innovation Hub | 99% |
partnered_with | South African Reserve Bank | 99% |
partnered_with | Monetary Authority of Singapore | 99% |
partnered_with | Reserve Bank of Australia | 99% |
participates_in | MAS | 95% |
leads | Bank for International Settlements | 95% |
operates | Bank for International Settlements | 95% |
contributed_to | Wholesale vs Retail CBDC Taxonomy | 89% |
Frequently asked questions
What is Project Dunbar?
Project Dunbar is a project tracked in the DeFi Intel knowledge graph. It is connected to 8 other tracked entities, most strongly to BIS Innovation Hub, South African Reserve Bank, Monetary Authority of Singapore.
What type of entity is Project Dunbar?
Project Dunbar is classified as a project (project) in the DeFi Intel knowledge graph.
What is Project Dunbar connected to?
In the DeFi Intel knowledge graph, Project Dunbar is linked to 8 other tracked entities, most strongly to BIS Innovation Hub, South African Reserve Bank, Monetary Authority of Singapore.
Live news feed, full graph, and search.