Guests Aniko Szombati, Chief Digital Officer Magyar Nemzeti Bank and Chris Ostrowski, Co-founder and CEO of SODA, joined FNA for Session #19 of the CBDC Broadcast, Testing DLT-based Central Bank Solutions.

In this session, we delved into the Central Bank of Hungary and SODA’s joint project on the use of digital solutions, including rCBDCs and NFTs, as we gained valuable insights into the pivotal role of public engagement and hands-on experiences in shaping the development and adoption of rCBDs by leveraging NFTs and coin collecting to improve the understanding and implementation of digital currencies.

Together, we explored how the Central Bank of Hungary is approaching adoption issues ahead of rolling out an rCBDC in an approach that cultivates the consumer use case for rCBDCs and prepares the public for the introduction of an rCBDC.

The Session Covered:

• The Central Bank of Hungary’s approach to launching an rCBDC and how it differs from the majority of current pilot projects
• The insights gained by implementing a blockchain-based ledger on its own infrastructure to test-drive digital solutions aimed at the public
• Lessons to share with other Central Banks considering the adoption of rCBDCs
• The public’s response to activities such as coin collecting and token swapping on the Money Museum mobile application and how it has developed and refined the rCBDC concept
• Whether the Central Bank of Hungary’s approach will foster the consumer use case for digital currencies and rCBDCs
• Potential future developments and trends in the realm of digital money, including rCBDcs and how they could shape the financial industry and society in Hungary and around the world.