{
  "title": "A Guide to Central Bank Digital Currency Product Development",
  "publication": "Fintech Notes, September 8, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/fintech-notes/issues/2023/09/08/a-guide-to-central-bank-digital-currency-product-development-538496",
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  "summary": "As central bank digital currency (CBDC) projects progress around the world, there is increased need for a project management methodology that is appropriate for CBDC.",
  "sections": [
    {
      "heading": "Summary and purpose",
      "content": "- As central bank digital currency (CBDC) projects progress around the world, there is increased need for a project management methodology that is appropriate for CBDC.\n- The paper develops a CBDC-specific project management methodology that:\n  - establishes a common terminology, and\n  - offers guidance to development teams on best practices for addressing the complex requirements and risks associated with CBDC.\n- Centered on an original five-step approach called the “5P Methodology”: preparation, proof-of-concept, prototypes, pilots, and production.\n- Emphasizes a phased approach to CBDC research and development, with strong focus on:\n  - research preparation,\n  - experimentation and testing,\n  - risk management,\n  - stakeholder engagement, and\n  - cyber resilience."
    },
    {
      "heading": "The 5P Methodology (core framework)",
      "content": "- Preparation\n- Proof-of-concept\n- Prototypes\n- Pilots\n- Production"
    },
    {
      "heading": "Major themes and guidance",
      "content": "- Project management methodology tailored to CBDC projects, providing:\n  - common terminology for CBDC development efforts,\n  - guidance on best practices for complex requirements and risks.\n- Strong emphasis on experimentation and testing throughout development phases.\n- Risk management and cyber resilience are highlighted as central priorities.\n- Stakeholder engagement is emphasized across the methodology.\n\n---\n\n Content in this bundle\n\n- Ftnea2023007\n  - Ftnea2023007 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Ftnea2023007 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/fintech-notes/issues/2023/09/08/a-guide-to-central-bank-digital-currency-product-development-538496"
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    "Authors: Hervé Tourpe, Ashley Lannquist, Gabriel Soderberg",
    "Published: September 8, 2023",
    "Series: Fintech Notes",
    "DOI: https://doi.org/10.5089/9798400253690.063",
    "As central bank digital currency (CBDC) projects progress around the world, there is increased need for a project management methodology that is appropriate for CBDC.",
    "The paper develops a CBDC-specific project management methodology that:",
    "Centered on an original five-step approach called the “5P Methodology”: preparation, proof-of-concept, prototypes, pilots, and production.",
    "Emphasizes a phased approach to CBDC research and development, with strong focus on:",
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    "Proof-of-concept",
    "Prototypes",
    "Pilots",
    "Production",
    "Project management methodology tailored to CBDC projects, providing:",
    "Strong emphasis on experimentation and testing throughout development phases.",
    "Risk management and cyber resilience are highlighted as central priorities.",
    "Stakeholder engagement is emphasized across the methodology.",
    "**Ftnea2023007**"
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