BIS releases guide to tackle ‘complex’ offline CBDC design

Trade-offs include privacy and security to meet jurisdiction-specific objectives


On October 26, the Bank for International Settlements released a design guide for using central bank digital currencies (CBDC) in retail payments offline, as part of its ongoing Project Polaris.

The guidelines were designed with the help of 12 vendors including Google, IBM and security printers Giesecke+Devrient in a series of deep-dive workshops between May and September 2023. Several central banks, including the European Central Bank, were present as observers. 

“The ability to pay when

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