The main objectives of the Focus Group are: – Study the economic benefit and impact of introducing DFC over mobile money; – Investigate the ecosystem of digital fiat currency implementation for financial inclusion; – Map the functional network reference architecture and process components required to implement digital fiat currency and integration with existing payment systems for interoperability; – Identify use cases, requirements and applications of digital fiat currency; – Develop better understanding of the security, regulatory implications, consumer protection, fraud prevention and counterfeiting issues of DFS and how can digital fiat currency can address these concerns; – Identify critical sovereign security, transparency and verifiability of DFC technology and provide guidelines towards the escrow of critical software and hardware components to ensure trust and verifiability; and – Identify new areas for standardization in ITU-T study groups.
Status: Published
Publication Date:
Category: Cybersecurity
Working Group: Focus Group on Digital Currency including Digital Fiat Currency
