EMTECH Introduces the GREEN CBDC Framework(™)
Effect, trust, energy use, innovation, open infrastructure and ecosystem should contextualize risk management and financial stability
NEW YORK, NY, Aug. 28, 2022 (GLOBE NEWSWIRE) — In an exciting move, EMTECH, an award-winning software company and first-of-its-kind modern central bank infrastructure provider, today unveiled The GREEN CBDC Framework to help central banks unlock unprecedented value by deploying a central bank digital currency (CBDC).
The announcement comes as a broad set of stakeholders, including central banks and the White House, are calling for energy-efficient methods of bringing financial services to consumers and businesses, as the need to reduce carbon footprints remains critical.
Given the unique role of central banks in the financial sector, the acronym “GREEN” specifies five key principles EMTECH believes should contextualize their mandate for financial stability and risk management. Indeed, there is unprecedented value for central banks in:
Managing for impact
Reimagining trust through transparency
Embrace the sustainable use of energy in the digital world
Boost innovation with core infrastructure
Nurturing inclusive and resilient ecosystems
“EMTECH makes ‘going green’ more practical for central banks with The GREEN CBDC Framework,” says Carmelle Cadet, CEO and founder of EMTECH. “In this framework, we present a workable and grounded approach for central banks to harness the value of building for trust, embracing sustainable technology while strengthening ecosystem innovation. By providing the Tier 2 layer with an energy-efficient cash infrastructure, central banks can green the entire financial ecosystem by design. We believe it is having an impact.”
The launch of the GREEN CBDC Framework is a natural step for EMTECH, which already uses green technology to power its solution. Last year, the company entered into a collaboration with Hedera to minimize the energy use of the 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. A CBDC solution should not put more pressure on fragile power infrastructure when run at scale, and could be a viable step to reduce carbon footprints,” says Cadet.
Cadet will speak at length about the tools of EMTECH’s GREEN CBDC at the 2022 CBDC conference in Frankfurt, Germany on August 30. Meanwhile, the EMTECH team is prepared to support central banks with the GREEN CBDC Toolkit which includes: Framework Adoption, Sandbox Pilot and Ecosystem Engagement. The pre-built CBDC core platform and APIs are also ready for piloting.
You can learn more about GREEN CBDC at Greencbdc.com and Emtech.com.
About EMTECH
EMTECH is building the next generation API-First Central-Banking Infrastructure. EMTECH provides software, data and services that connect central banks with other regulators and financial service providers. Our platforms drive regulatory data exchange, currency issuance and currency movements in the financial markets.
EMTECH is a diverse global firm that makes financial ecosystems inclusive and resilient by design. For more information, visit www.emtech.com.
CONTACT: Matthew Aversa EMTECH [email protected]
