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BIS says digital cash can match cash privacy but bank breaches risk data

In a Phase 2 Project Aurum report, the BIS said the digital cash technology is not yet production ready due to risks including how bank data breaches could expose users’ personal data.

Reported · Written up by our desk · Regulation

The Bank for International Settlements said digital cash can provide privacy properties similar to cash, but it is not yet ready for production because of remaining security and implementation risks.

In its Project Aurum Phase 2 report, the BIS pointed to concerns such as the possibility that bank data breaches could expose users’ personal data, undermining privacy goals.

The BIS said the Phase 2 work implements a privacy-preserving digital cash prototype using its existing Aurum codebase, aiming for a balanced approach rather than complete anonymity or full disclosure.

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