Hybrid Central Bank Digital Currency

Hybrid-Central Bank Digital Currency

The HCBDC is a completely new Currency System that is backed 100%, by an internationally tradable material held as reserve stock.  It can be used by companies and institutions trading in international commodities, as replacement  for having to hold vast amounts of foreign currencies and exchange hedging funds. It also eliminates the associated expensive transaction costs. It brings a simple but stable solution to a volatile market.

The  HCBDC goes through a rigorous assessment before it is authorized. The Reserve Bank's assessment and approval procedures ensure compatibility and compliance with their current systems and regulations and alignment with future plans around digital currencies. The financial and academic gremia assess the market compatibility and overall soundness of this product.


Why a Hybrid Currency?

Digital currencies emerged as response to the strangle hold of the international money markets and banking systems on the free flow of money. However, as commercial interest grows for digital currencies, there is a political and an institutional wakefulness about the safety of these currencies and about the lack of regulatory mechanisms to safe guard monies, currencies and ultimately the economy of individual countries and world wide. The awareness grows that a balance has to be found here.

The Central Bank has developed some views suggestions and a policy making toolkit about the future of the digital currency phenomenon, published in January of 2020. We identified the following key points that are necessary to create a completely new currency system and make a fresh start:


Key Points

  • Easy to use
  • 100% backed by reserves
  • Viable ability to be both centralized and decentralized control mechanisms
  • Can be both Token and Digital based
  • Tradable internationally
  • Strong validation system
  • Simple but robust transaction records
  • Accessible for investment by any individual, corporation, institution from any country
  • Backed by the Central Banking system and its representatives
  • Compatible with the main transactional banking systems for verification of funding sources and securities.

With this information in hand we took a fresh look at all the Digital and standard currencies and banking practices.The new Hybrid Digital Currency turned out to be the best possible system that can provide the best solution going forward.

The new Hybrid-Central Bank Digital Currency allows for the best of both: Centralized reserve stock options held by the Central Bank and Decentralized reserve stock held here in New Zealand.

It is a simple system that can be implemented quickly. It has a number of retail and wholesale options to suit a variety of customers.

The issuer of the currency ensures that the quality of the Reserve Stock is met, that it can be verified independently and, that suitable stock levels are maintained.


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