On July 7, the Financial institution for Worldwide Settlements (BIS), a monetary establishment owned by constituent central banks, printed a framework for defending central financial institution digital currencies (CBDCs) towards cybersecurity threats. The BIS wrote:
In its report, the BIS mentioned safety frameworks ought to safeguard the confidentiality, integrity and availability of CBDC transactions. By design, CBDCs should be capable of dynamically scale to answer a sudden surge in transaction volumes, don’t have any single factors of failure, function 24/7 with out outages and performance even when their underlying monetary establishment experiences an outage. Furthermore:
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