Fantom presenting to United Nations CBDC and stablecoin teams
On March 11, 2021, Fantom Foundation will present its highly interoperable, secure, instantaneous, near-zero cost, asynchronous byzantine fault tolerant (aBFT) blockchain to the Digital Currency Global Initiative’s Architecture, Interoperability and Use Cases Working Group.
The ITU membership comprises 193 member states, more than 700 private sector companies, and 160 academic institutions.
The presentation will showcase Fantom’s blockchain for use in CBDCs to United Nations ITU (International Telecommunication Union) members, including global Central Bankers, top universities, large corporates, research institutions, and international financial agencies.
Emerging government-backed CBDC and stablecoins can significantly advance antiquated, slow, expensive, and non-inclusive monetary systems.
Fantom’s technology, and its unique attributes, place it at the forefront of technologies under consideration by governments worldwide.
Fantom’s goal is to help advance the monetary systems of both developed and lesser developed governments to operate in much more effective and inclusive ways for their citizenry.
“Fantom evaluates success through the prism of financial inclusion and social impact. We are pleased and proud to offer our government partners democratized access to our fully transparent and highly efficient technology solutions to help them better serve their constituents and simultaneously leapfrog economy-dragging technical debt in the process.
We genuinely believe that our work in the Middle Eastern region will dramatically improve the economies involved and present meaningful opportunities for local citizens. CBDC’s are the next step in the direction of bringing transparency and efficiency to the legacy system.” Michael Kong, CEO at Fantom Foundation
The Digital Currency Global Initiative (DCGI)
The Digital Currency Global Initiative provides an open and neutral platform for dialogue, knowledge sharing, and research on Central Bank Digital Currency (CBDC) applications and other digital currency implementations. It advances the dialogue and research initiated by ITU-T Focus Group on Digital Currency, including Digital Fiat Currency (FG DFC) on pilot implementations, use cases, and developing specifications for technical standards.
Founded in 2018, The Fantom Foundation has built a highly scalable blockchain ecosystem that facilitates decentralized, scalable, and secure technologies.
Fantom is a fast, scalable, and secure layer-1 platform built on an aBFT consensus protocol.
The speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world uses.
Many Ethereum protocols are porting over to Fantom to create a seamless cross-chain ecosystem. These include Keep3rV1, Cover, Cream, Frax, Sushiswap, Yearn, and others.
The technology is also used in several government digitization programs in the Middle East.