Page 26 - PROJECT KHOKHA 2

THE PROOF-OF-CONCEPT
Technical architecture
The next section describes the components of the debenture token market.
The wCBDC Zone
The wCBDC Zone was built on R3 Corda, an enterprise DLT which is designed specifically for highly regulated, mission-critical environments where resilience, scalability, security and integration are required. R3 Corda has been used in many high-profile central bank projects, including Project Inthanon-LionRock (BoT
and HKMA, 2020), Phase 3 of Project Jasper (Payments Canada et al, 2019), and Project Jasper-Ubin (BoC and MAS, 2019).
Figure 8: wCBDC Zone architecture diagram
The wCBDC token was minted on the wCBDC Zone by the SARB, making use of a SAMOS simulator (refer to Appendix 4 for a list of application engines used) rather than building
a full integration to SAMOS for a PoC. Once a participating bank bought a wCBDC it was able to trade wCBDC with other participant banks, import or export wCBDC to the Khokha Hub and import back to the SARB. The wCBDC token fully maintained its value when exported to the Khokha Hub – a non-native network. Figure 8 below provides an overview of the architecture of the wCBDC Zone.
RTGS
e k
Existing Systems
CBDC Engine
DLT Node
CBDC Admin Console
Existing Systems
CBDC Engine
CBDC Admin Console
Existing Systems
CBDC Engine
CBDC Admin Console
Existing Systems
The wCBDC Zone interfaces with existing systems, such
as the RTGS, fraud, risk, analytics, and payment systems via the CBDC Engine, which utilises Enterprise Integration.
CBDC Engine and Console
These orchestrate and maintain connections with existing systems.
DLT Network
The DLT finalises and records all valid transactions and maintains the integrity of the wCBDC network.
DLT Node
DLT Network
DLT Node
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Banks/Service Providers
SARB
Banks/Service Providers