Development of a research environment for the operational and computational architecture of central bank digital currency software

Abstract

Objectives. The development and implementation of information and computing architecture and information support for a state central bank digital currency (CBDC) is based on the selection of a software and hardware platform, including technologies and methods for supporting interaction between the elements of the computing complex. The implementation of CBDC technologies significantly depends both on the operational and computing architecture, as well as on the technological characteristics of the means for implementing digital currency information support, which determines the need to develop an appropriate research environment. Thus, the present study sets out to develop an infrastructure for the experimental research environment of the operational and computing architecture used to provide information support for the CBDC.Methods. Digital technologies required for forming an CBDC implementation stack are under development in many countries of the world. The basis for the formation of a software and hardware complex for providing CBDC information support is comprised of theoretical and experimental studies into contemporary digital transaction management tools.Results. The main architectural and technological components that make up the CBDC operational and computing environment comprise operational and computing architectures, blockchain technologies, consensus algorithms, and various forms of digital currencies. Five CBDC operational and computing architecture options are presented. Information models of interaction between the participants in transactions of the central bank digital currency were studied with the aim of establishing the effects of an architectural solution to the characteristics of the computing complex used to provide information support. Features of various digital currencies in the form of accounts and tokens were analyzed.Conclusions. A research environment infrastructure for the CBDC operational and computing information support architecture has been developed. The prerequisites for a comprehensive analysis of the technological characteristics of the CBDC operational and computing environment are set out along with a comparison of operational and computing architecture variants. As a result of the analysis, a summary list of the characteristics of the studied architectures is drawn up. This provides for selecting the optimal operational and computing architecture depending on the requirements imposed on the CBDC.