EMTECH, an award-winning software company and first-of-its-kind modern central banking infrastructure provider, announced today the G.R.E.E.N. CBDC Framework to assist central banks in unlocking unprecedented value when deploying a Central Bank Digital Currency (CBDC).
The announcement comes as a broad set of stakeholders, including central banks and the White House, call for energy-efficient methods of bringing financial services to consumers and businesses, as the need to reduce their carbon footprint remains critical.
Given the unique role of central banks in the financial sector, the acronym “G.R.E.E.N.” specifies five key principles EMTECH believes should contextualize their mandate of financial stability and risk management. Indeed, there is unprecedented value for central banks in:
- Governing for impact.
- Reimagining trust through transparency.
- Embracing sustainable use of energy in the digital world.
- Empowering innovation with core infrastructure.
- Nurturing inclusive and resilient ecosystems.
“EMTECH is making ‘going green’ more practical for central banks with The G.R.E.E.N. CBDC Framework,” says Carmelle Cadet, CEO and Founder of EMTECH. In this framework, we present a feasible and grounded approach for central banks to tap into the value of building trust by embracing sustainable technology while also empowering ecosystem innovation. By providing the Tier 2 layer with an energy-efficient cash infrastructure, central banks can make the whole financial ecosystem greener by design. We think that’s impactful.
The launch of the G.R.E.E.N. CBDC Framework is a natural step for EMTECH, which already utilizes environmentally friendly technology to power its solutions. Last year, it partnered with Hedera to minimize the energy usage of its solution.
Earlier this month, EMTECH’s CEO was published by NASDAQ on how CBDC can help drive a greener future.
“Both developed and developing economies can adopt this framework. “When used at scale, a CBDC solution should not put additional strain on fragile power infrastructures and can be a viable step toward reducing carbon footprint,” says Cadet.
Cadet will speak at length on the utilities of EMTECH’s G.R.E.E.N. CBDC at the 2022 CBDC Conference in Frankfurt, Germany on August 30th. Meanwhile, the EMTECH team is prepared to support central banks with the G.R.E.E.N. CBDC Toolkit, which includes: Framework Adoption, Sandbox Pilot, and Ecosystem Engagement. The pre-built core CBDC platform and APIs are also ready for piloting.