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Central Bank Issued Digital Currency and Its Potential Impact on Financial Inclusion
Date: 3 September 2015
Central bank issued digital currency
Its potential impact on Financial Inclusion
September 3, 2015
Paper currency
Serial number
Background lacework design
Metalic strip on back
Embedded stamp design
Country specific person (Samora Moises Machel)
Reflective ink desgin
Watermark
3Property of digital currency Mint Limited. All information contained herein is strictly confidential – not for distribution. All rights reserved ©
Digital currency
Central Banks can now issue digital currency – a standard unit
Logos and images on this page are for illustrative purposes only.
The Central Bank Enables Convertibility and Interoperability
Logos and images on this page are for illustrative purposes only.
§ Issued by Bank of Mozambique§ Legal tender in digital form § Interoperable by definition
= Digital Metical
Property of digital currency Mint Limited. All information contained herein is strictly confidential – not for distribution. All rights reserved ©
Extension of Central Bank’s Currency Product Line
Coins
Notes
Coins
Notes
Now Future
Property of digital currency Mint Limited. All information contained herein is strictly confidential – not for distribution. All rights reserved ©
MØ MØDigital currency as part of MO
History Repeating Itself
Logos and images on this page are for illustrative purposes only.
6
PrivateBankNotes
Bifurcate UnifyCentralBank
CurrencyGold Unify Electronic
CurrencyBifurcate
UnregulatedPrivate E-‐money
CentralBankRole
Digital Currency Production Engine: Controlled by The Central Bank
-‐STRICTLY CONFIDENTIAL – DO NOT DISTRIBUTE-‐ 7
Digital Fiat Currency Machine
Central bank issued digital currency
Its potential impact on Financial Inclusion
September 3, 2015
Thank you!
Distribution of digital currency: Fast, secure and flexible
9Property of digital currency Mint Limited. All information contained herein is strictly confidential – not for distribution. All rights reserved ©
BM
Commercial bank
Merchant
Public
Metical Distribution eMetical Distribution
BM
DFSOther ECDs
Commercial bank
Public
eCMS Data Dashboard
• Provides unprecedented view of all activities• Captures all issuance and transactional data
at the point of transaction• Displays metrics in real time across the entire system
– Currency Velocity– Volume of Transactions– Currency Distribution– ECD Activity Level
• Reporting and auditing tools• Customizable
-‐STRICTLY CONFIDENTIAL – DO NOT DISTRIBUTE
There is clear distinction between digital currency and e-‐money
Physical Representations of Money Currency (Paper and Coins)
• Created as a medium of exchange within a circle of acceptance
• Central Bank issued
• Privately issued • Legal tender
• Non-‐reliable source to store value • Sovereign denomination
• Accepted within a circle of users • Unit of account, medium of exchange, store of value
Electronic Representations of Money (E-‐Money)
Electronic Currency
• Issued (electronically) in exchange for currency
• Central Bank issued
• Privately-‐sanctioned • Legal tender (in electronic form)
• Non-‐reliable electronic store of value • Sovereign denomination
• Operates in closed systems • Unit of account, medium of exchange, store of value
11Property of digital currency Mint Limited. All information contained herein is strictly confidential – not for distribution. All rights reserved ©
Distribution Framework
Central Bank
Electronic Money Issuers (EMI’s)
digital currency Plates
Issuance Dashboard
Governance &
Monitoring
Electronic Currency Distributors
Electronic Money Issuers (EMI’s)
Commercial Bank
Root Plate
Secure Instrumen
t
Property of digital currency Mint Ltd.™ All information contained herein is strictly confidential – not for distribution. All rights reserved ©
www.afi-‐global.org
Central Bank Issued Digital Currency and Its Potential Impact on Financial Inclusion
Date: 3 September 2015
