Over the past few years, the global financial landscape has undergone a significant transformation marked by the emergence and integration of digital assets. Looking ahead, the global financial terrain is set to include a spectrum of both sovereign and nonsovereign digital currencies and both centralized and decentralized networks. This future brings the promise of enhanced efficiency, inclusion, transparency, and choice to global payments. To fulfill this promise, the international community must develop interoperability standards that prioritize a fast, highly scalable, and resilient architecture. The flexibility of this architecture to adapt configurability based on policy and economic considerations is critical to its success.
This working paper is a foundational step toward a broader, global dialogue about digital asset standards.