The Central Bank of Chile Insists on the Autonomy of the Digital Peso

The Chilean central bank, which is designing the digital peso, has announced the need for autonomous operation of the system, Rosanna Costa, the head of the regulator, has said.

According to her, operations on the CBDC platform should be available online and offline. However, she did not rule out that effective technologies for this may appear later. She has added:

“The system should allow the authorities to track transactions while preserving the user’s personal data.”

Among the mandatory characteristics of the digital peso, she has called its security, convertibility with cash and the possibility of using the asset by commercial banks.

The head of the Central Bank has promised to produce a policy paper within a week, although a final decision on the release of a digital form of the Chilean peso has not yet been taken.