Summary
2021
Session Number:TS8
Session:
Number:TS8-4
Cos-CBDC: Design and Implementation of CBDC on Cosmos Blockchain_
Jungsu Han, Jeongheon Kim, Jongsoo Woo, James Won-Ki Hong,
pp.303-308
Publication Date:2021/9/8
Online ISSN:2188-5079
Summary:
With the advent of e-commerce and electronic payment systems, the use of paper currency is decreasing. Therefore, it is sufficiently predictable that most paper cur- rencies will disappear and digital currencies will become the mainstream. This phenomenon is further accelerated by advances in blockchain technology and COVID-19. This is why the Central Bank Digital Currency (CBDC) has recently begun to attract attention. Currently, there are studies on CBDC with a blockchain-based distributed ledger. In this paper, we propose Cosmos blockchain based CBDC (Cos-CBDC) that enables communication between blockchains using Inter-Blockchain Communication (IBC) protocol to ensure interoperability. We not only analyze the requirements of Cos-CBDC but also design and implement it using Cosmos-SDK. Furthermore, we propose a Group Key Management system in Cos-CBDC. It can give different user privileges, and privacy-preserving is possible in the key generation process.