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From YouTube: Build CBDC Platform on Hyperledger Besu - Dive in Retail CBDC's Architecture - Charles d'Haussy
Description
Build CBDC Platform on Hyperledger Besu - Dive in Retail CBDC's Architecture - Charles d'Haussy, ConsenSys
Build CBDC platform on Hyperledger Besu - Zoom in the CBDC Sandbox ConsenSys APAC team will present an overview of the architecture of the CBDCs platform powered by Hyperledger Besu. The team will also showcase a demo of the CBDC sandbox. Join us for an overview of our testing platform that will allow central banks and developers to assess and explore central bank digital currencies architecture in a simulated digital ecosystem.
Session Details & Slides (if available)- https://sched.co/j3fS
Access All Sessions: https://events.linuxfoundation.org/hyperledger-global-forum/program/schedule/
----
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A
A
A
A
I
will
be
sharing
some
of
our
thoughts
and
works
around
scalability
and
cbdc's,
which
are
very
important
in
the
in
in
in
the
case
of
of
retail
cbd,
as
well
as
looking
at
how
privacy
can
be
implemented
in
this
retail
community
and
we're
going
to
end
up
with
a
little
bit
of
a
demo
and
illustration
of
how
this
platform
looks
like.
So
I
really
encourage
you
to
stay
until
until
the
end
and
prepare
some
questions.
I'm
happy
to
take
questions
at
the
end
of
the
talk.
A
So,
let's
start
with
a
few
market
insights.
So,
as
you
know,
blockchain
is
disrupting
the
payment
infrastructure.
Is
this
disrupting
many
different
kind
of
parts
of
the
financial
ecosystem
and
the
and
the
and
the
way
we
interact
in
a
digital
way?
But
but
payment
is
clearly
the
the
first
on
the
line,
so
you
see
a
giant
such
as
visa
master,
karna
and
many
others
which
are
starting
to
to
face
some
contenders
from
the
stable
coin.
A
A
Ncbdc's
are
clearly
adding
a
similar
momentum,
not
at
the
same
pace.
They
involve
central
banks.
They
involve
a
lot
of
policies,
a
lot
of
experimentation
because
for
government
moving
your
money
on
on
blockchain
is
a
big
decision
and
you
want
to
make
sure
everything
is
in
order
from
the
the
legal
point
of
view
of
your
cbdc,
but
also
in
terms
of
implementation,
rollout,
rollout,
planning
and
and
also
resiliency.
A
Definitely,
the
big,
the
big
leader
and
the
elephant
in
the
room
is
a
mainland
china
with
the
retail
cbdc,
which
is
really
super
actively
getting
closer
to
to
a
full
launch.
But
there
was
also
a
few,
a
few
experiments
and
some
some
other
release
in
vietnam,
or
in
the
in
the
islands
between
between
the
us
and
and
and
south
america,
so
clearly,
a
topic
which
is
which
is
hot
and
a
lot
of
people
at
work
on
this
topic.
A
So
if
you
look
at
digital
currencies,
looking
at
the
retail
kind
of
architecture
today,
you
see
on
my
left
of
the
screen
the
the
way
the
settlement
and
the
authorization
of
payments
are
organized
today.
So
you
see
multiple
different
stacks
of
services,
infrastructure
providers
and
when
you
move,
move
this
architecture
and
kind
of
optimize
it
with,
with
a
with
a
with
a
blockchain
base
and
an
hyperledger
bezel
you're,
essentially
able
to
compress
and
create
a
cbd
sillager
where
all
these
players
will
be
able
to
to
interact.
A
A
So
there
is
two
use
cases
in
in
cbdc's
and
and
the
the
in
the
payment
systems
the
wall
sale
payments.
So
you
see
some
initiative
built
on
ethereum
such
as
gp,
morgan,
dbs
and
temasek
here
in
in
epact
and
and
precisely
in
singapore,
but
there
is
also
many
other
initiatives
which
are
really
focusing
on
the
retail
payment
part
of
the
of
the
of
the
cbdc
digital
currencies,
conversation
and
depending
who
you
are
so
on
my
right
of
the
screen
retail
cbc.
A
A
Consensus
has
been
involved
in
in
cbds
for
quite
some
time
now.
Back
in
2018,
we've
been
already
started
to
work
with
ems
and
the
south
african
reserve
bank,
and
today
in
2021
we
have
multiple
engagements.
In
parallel
with
society
general.
We
are
working
with
bond
defense
here
in
hong
kong,
together
with
bis,
pboc,
hkma,
cb,
uae
and
the
bank
of
thailand.
The
project
mcbc
bridge
is
a
is
doing
very
well
and
keep
expanding
as
well
as
in
in
australia
with
the
reserve
bank
of
australia.
A
A
So
if
we
focus
now
on
digital
currencies,
essentially
moving
moving
your
cbdc
to
to
to
a
blockchain
based
platform
and
precisely
here
on
an
ethereum
platform,
you
are
solving
the
risk
of
double
spend
and
this
risk
of
double
spent
is
really
the
one
of
the
initial
proposition
of
blockchain
systems
and
it
brings
digital
currency
type
of
operations,
much
more
efficient
and
cheaper
to
run
as
well
as
auditable
in
real
time
and
and
working
24
7..
So
that's
that's!
Really
the
core
proposition.
A
We
acknowledge
that
there
is
a
lot
of
unsolved
questions
around
cbdc's
and
we
are
early
in
this
in
this
in
this
type
of
products,
but
we
believe
that
cbdc
should
be
digitally
native
money
as
a
distribution
comes
in
two
tiers,
that's
what
we
observe
mostly
and
what
we
we
support
with
our
solution.
We
believe
in
cbdc's,
which
are
token
based
and
that's
very
important.
A
A
So
after
having
these
kind
of
foundations
on
the
top
of
it,
we
come
and
add
an
erc20
smart
contract
which
essentially
will
be
will
be
managing
the
issuance
and
the
redeem
of
cbdc's
and
connected
to
a
fiat,
an
amp.
If
it's
required
privacy
is
important.
Every
stability
is
evolved
into
jurisdictions
where
there
is
data,
privacy
and
privacy,
regulations
and
and
manish
will
respect
that
so
to
comply
with
this
type
of
requirement.
A
So
the
way
we
design
this
this,
this
retails
abilities
in
a
simple
in
a
simple
way.
You've
got
a
private
network
with
the
central
banks.
We've
got
the
commercial
banks
depending
on
the
requirement
of
the
central
banks.
We
might
also
include
in
this
cbdc
ledger
payment
service
providers
and
then
business
applications
are
built
on
the
top
of
this
on
top
of
this
architecture
and
and
base
and
foundation.
A
So
if
you
look
at
a
simple
high-level
flow
of
cbdc
transfer
here
between
between
bob
analyst,
so
there
will
be
an
application
which
is
an
application
which
can
be
an
existing
digital
payment
application
but
capable
of
managing
and
dealing
with
with
cbdc's.
This
application
will
craft
and
sign
a
transaction.
The
transaction
will
be
broadcasted
via
the
bank
or
the
psp
node
on
the
network,
get
finer
get
finality
and
then
essentially
broadcast
back
this
finality
and
update
the
records
back
to
alice.
So
it's
a
very,
very
traditional
type
of
transactions
management.
A
So
at
consensus.
We
we
we
built
what
we
call
the
layer
2
solution,
so
it
sits
on
the
top
of
the
original
block
shell
and
this
this
solution
is
called
sumo,
so
sumo
is
actually
built
following
the
roll-up
framework
with
a
consensus
framework
and
what
it
allows
is
to
essentially
create
a
sidechain
where
you
can
get
a
very
large
number
of
transactions,
a
way
faster
consensus
and
we've
been
able
to
to
experiment
18
000
tps
transactions
per
second
on
the
base
of
hundred
millions
of
icons.
A
We
also
work
and
design
products
for
for
the
different
projects
we
are
involved
with,
and
what
we
want
to
achieve
with
privacy
is
to
keep
to
keep
transactions
private
and
making
sure
that
the
participants
can
transact
with
one
another
but
also
keeps
the
level
of
privacy.
And
if
you
look
at
the
context
of
a
retail
cbdc,
you
can
think
of
central
banks,
communication
with
central
banks,
communications
between
commercial
banks,
communication
between
banks
and
final
users
and
communications
between
final
users.
A
So
it
brings
the
number
of
of
of
use
case
and
the
number
of
situations
you
need
to
be
able
to
handle
very
large.
So
there
is
one
option
to
to
build
privacy.
On
the
on
I
project,
your
bezel
is
following
the
architecture
of
what
we
call
privacy
groups.
It's
one
option,
but
there
is
also
another
option
which
is
more
around
what
we
call
the
zero
knowledge
proof
which
which
allows
us
to
essentially
generate
transactions.
A
And
out
of
this
john
split
between
the
different
transactions
being
able
to
ensure
the
continuity
and
the
validity
of
a
transaction,
but
without
revealing
any
value
of
the
transactions,
neither
with
a
with
the
receiver.
So
this
your
knowledge
proof
solution
is
the
second
solution
which
we
implement
in
the
context
of
retail
civil
disease.
A
A
Zika
is
still
a
new,
a
new,
a
new
type
of
of
privacy
management,
but
it's
very
promising
and
progressing
extremely
quickly.
So,
depending
on
the
context,
we
will
deploy
a
different
type
of
privacy
solutions
for
for
our
solutions,
so
different
type.
As
I
said,
they
are
used
various
tied
off
between
the
privacy
groups
and
the
ends
and
zk's.
A
So
let's
look
a
little
bit
more
on
how
this
this
platform
for
cbdc
is
called
codify
payment,
which
is
an
application
layer
built
on
the
top
of
this
cbdc
foundation.
Blockchain
works,
so
you
could.
The
platform
has
capabilities
of
managing
central
banks,
banks
and
even
end
users,
so
you
can,
as
a
central
bank
here,
for
example,
create.
A
So
you
want
eventually
to
connect
this
platform
with
your
your
original
fiat
or
custody
solution.
To
make
sure
you,
you
mean
what
what
you
want
and
then
there
is
capabilities
to
directly
for
holders,
so
it
could
be,
for
example,
a
bank,
a
commercial
bank
starting
to
essentially
trade
and
swap
with
with
the
central
banks
their
fiat
or
getting
an
allocation
by
the
central
banks
for
through
some
other
some
other
mechanisms.
A
So
you
see
here
two
types
of
users
between
the
direct
bank,
the
direct
order
or
the
bank
and
the
issuer,
the
central
banks.
So
all
the
history
of
the
transactions
obviously
is
recorded
as
well
as
a
finality
of
the
transactions
and
depending
on
the
requirement
and
the
use
cases.
There
is
different
type
of
approvals
and
approval
scales
and
methodologies
to
make
sure
that
there
is
all
the
governance
in
place
around
such
a
strategic
piece
of
infrastructure
for
for
central
banks
and
their
banks.
A
In
this
context.
Here
we
are
using
consensus
metamask,
but
this
could
be
any
any
other
type
of
of
of
erc
compatible
type
of
wallet
and
then
the
end
user.
Direct
orders
could
also
start
to
have
a
peer-to-peer
exchange
of
of
money,
so
it
could
be
between
users
or
user
processing,
their
payment,
and
it's
a
very,
very
similar
experience
as
any
digital
payment.
A
A
So
the
auditor,
the
central
banks,
are
specific
features
and
same
for
the
auditor
of
of
the
banks
themselves,
so
they
can.
They
can
auto
police
themselves
and
you
can
increase
obviously,
as
a
central
bank,
your
cbdc
supply
by
by
minting
additional
cbdc's,
but
also
burning
some
when
they
have
left
the
system
or
for
some
some
accounting
reasons
again.
A
B
A
Yes,
I
I'm
seeing
the
question,
so
I
will
take
the
questions
from
the
from
the
last
one,
any
institutional
users
of
codify
already.
So
yes,
there
is
institutional
users
of
qualified
today,
mostly
in
the
banking
sectors,
around
stablecoin
issuance,
it's
the
same
stack
for
cbd
and
stablecoin,
a
few
variations,
but
the
same
car
stack
as
well
as
central
banks.
A
A
If
there
is
any
more
questions
happy
to
take
some,
so
can
you
please
share
any
contact
that
is
hiring
for
blockchain
practice
in
the
u.s?
Absolutely
consensus
is
hiring
quite
a
bit.
We
have,
I
think,
100
openings
on
consensus
website
right
now,
so
I
invite
you
to
go
to
consensus.net
careers
and
you
will
find
the
openings
over
there.
If
you
like
to
to
consider
joining
consensus.
B
A
So
it's
not
the
same
as
rtgs,
so
atomic
dvp
essentially
is
a
smart
contract
which
will
which
will
release
payments
and
collect
payments.
When
there
is
when
there
is
a
transactions
being
made.
So
at
least
it's
it's
editable
in
a
in
a
faster
or
faster
way,
and
you
can
identify
if
there
is
a
risk
or
if
there
is
one
of
the
one
of
the
the
players
in
the
transactions
which
is
not
having,
for
example,
the
phones
they
are.
A
A
A
So
far
the
cbdc's
for
retail
have
been
deployed
on
roll-ups,
so
roll-ups
transaction
costs
are
minimal,
if
not
close
to
zero,
and
when
we
deploy
the
wholesale
cbs
platform,
they
are
usually
deployed
in
a
permission
way
where
we
can
essentially
neutralize
the
gas
cost
and
there
is
no
gas
fee.
So
the
some
applications
of
cbds
might
be
in
the
future
using
the
main
net
of
ethereum.
But
the
beauty
of
hyperledger
bezu
is
the
possibility
of
deploying
pilot
and
permission
networks
where
you
can
neutralize.
A
The
gas
fees
essentially
make
them
free,
but
you
can
also
get
a
connectivity
to
the
ethereum
magnet.
So
there
is
a
gas
fee.
I
would
say
considerations
when
you
go
to
the
mainnet
and
get
a
global
reach,
but
when
you're
building
a
private
ethereum
type
of
architecture,
there
is
no
gasoline
conversation.
A
A
In
the
meantime,
you
have
multiple
layer,
2
solutions
which
are
popping
up
into
into
the
ecosystem,
where
transactions
are
highest
throughput,
very
fast
finality
and
very
low
gas
fees.
So
there
is
a
combination
of
different
solutions
from
the
the
base
layer,
layer,
one
of
ethereum,
which
will
be
upgraded
within
within
six
months
in
in
the
in
the
public
mainnet
context.
A
But
there
is
also
layer,
two
solutions
for
the
magnet
and,
as
I
was
illustrating
earlier,
you
can
also
in
a
private
setup,
essentially
implement
a
layer
two
usually
so
we
don't
have
a
problem
of
gas
in
this
private
setup,
but
we
we
want
to
increase
the
throughput
of
the
other
network,
so
we
deployed
in
this
case
a
layer
two
on
the
top
of
the
base
layer,
so
that
this
layer
two
could
could
bring
us
to.
As
I
was
mentioning
up
to
eighteen
thousand
transactions
per.
B
So,
unfortunately,
we
are
out
of
time.
There
are
still
actually
very
interesting
questions.
There's
a
question
about
lost
or
stolen
coins,
comparison
with
r3
cbdc
solution
and
actual
the
question
about
the
connectivity
to
mainnet
from
a
private
vessel
network
and
so
on.
So
charles,
would
you
be
able
to
tell
the
audience
where
to
find
you?
Maybe
you
wanted
to
set
up
like
a
you
know,
birds
of
a
feather
session,
to
enter
answer
all
of
the
questions,
because
I
think
this.
These
are
really
topics
worth
discussing.