It is important that if a customer service or control function must be done in an independent, fiduciary, or unbiased manner relative to other activities, appropriate firewalls are in place before the product or activity begins, to ensure that the integrity of the process is not compromised.
Moving forward, the BSP plans to roll out Project CBDCPh, which is the BSP’s pilot project to build organizational capacity and hands-on knowledge of CBDC design, architecture, technology, and policy implications. To promote the adoption and frequent use of digital financial services, trust in the system must be present.