ContextOpening remarks by Agustín Carstens, General Manager of the BIS, at the Cybersecurity for Central Bank Digital Currencies (CBDCs) conference, 8 November 2023, Basel, Switzerland.
Why it mattersCarstens argues that cyber security must be built into CBDC design.
Problems raised
Cyber threats are growing for the financial system.
The stakes of a cyber attack on a CBDC are very high.
Security must keep pace with new technology.
Solutions proposed
Build strong cyber security into CBDC design from the start.
Keep CBDC designs flexible to adapt to new threats.
Cooperate internationally through the BIS on cyber resilience.
