Programmability is one of the major draws of digital money. It is also one of the features of cryptocurrencies that is being seriously considered by central bank digital currency (CBDC) designers. But what exactly programmability means in the context of CBDCs is up for debate....
The Monetary Authority of Singapore and DBS Bank are running a trial of tokenized Singapore dollars that can be programmed for specific uses and allow merchants to be paid immediately. The experiment with “purpose bound money” (PBM) or programmable money is being carried out under the...
April 06, 2023
Programmability has been pegged as one of the major draws of digital currencies and one of innovative services that central bank digital currency (CBDCs) could help facilitate. But there is a distinction to be made between programmable payments — setting predefined terms for a payment to be initiated — and programmable money. In fact, at […]
