Focus Group on Digital Currency including Digital Fiat Currency

The main objectives of the Focus Group are:

• Study the economic benefit and impact of introducing DFC over mobile money;
• Investigate the ecosystem of digital fiat currency implementation for financial inclusion;
• Map the functional network reference architecture and process components required to implement digital fiat currency and integration with existing payment systems for interoperability;
• Identify use cases, requirements and applications of digital fiat currency;
• Develop better understanding of the security, regulatory implications, consumer protection, fraud prevention and counterfeiting issues of DFS and how can digital fiat currency can address these concerns;
• Identify critical sovereign security, transparency and verifiability of DFC technology and provide guidelines towards the escrow of critical software and hardware components to ensure trust and verifiability; and
• Identify new areas for standardization in ITU-T study groups.