Sovereign Wallet (SWN Global) Sets New Standards in CBDC Design with “Chained Cash” Technology in BIS’s Project Polaris

Sovereign Wallet (SWN Global) is leading the charge in the development of Central Bank Digital Currencies (CBDC) as an active participant in the Bank for International Settlements’ (BIS) “Project Polaris: A High-Level Design Guide for Offline Payments with CBDC.” Collaborating with major central banks and industry leaders such as Google and IBM, SWN Global is at the forefront of shaping the future of secure offline CBDC systems, a critical aspect of the rapidly evolving digital financial landscape.

“Project Polaris,” the conclusive phase of BIS’s comprehensive series, intricately explores the intricacies of CBDC systems, emphasising the intricate design choices necessary for successful offline CBDC implementation. This initiative recognises the pivotal role of offline payments in the modern digital economy, addressing the challenges posed by the limitations of consensus protocols in blockchain technology, which demand continuous network connectivity for effective operation.

Sovereign Wallet’s innovative “Chained Cash” technology has emerged as a standout solution, seamlessly integrating both online and offline CBDC environments. This revolutionary approach eliminates the need for users to toggle between offline and online CBDC, streamlining the payment process and enhancing user convenience significantly. Moreover, “Chained Cash” presents a more secure and cost-effective alternative for central banks, eradicating the need for maintaining separate CBDC systems and ensuring seamless interoperability. This progressive approach not only reduces operational costs but also strengthens overall security measures, setting a new industry standard in digital finance.

Phantom Seokgu Yun, the CEO of SWN Global, emphasised the superior qualities of “Chained Cash” for CBDC design. He highlighted its ability to eliminate user confusion associated with switching between online and offline CBDC, emphasising the technology’s security and cost-effectiveness. This endorsement underscores SWN Global’s commitment to advancing CBDC technology and driving innovation in the global financial sector.

Sovereign Wallet (SWN Global) continues to lead the way in CBDC technology, revolutionising digital finance and paving the path for cutting-edge solutions in the global financial landscape.