Page 26 - Project Khoka 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
& HKMA, 2020), Phase 3 of Project Jasper (Payments Canada et al, 2019), and Project Jasper-Ubin (BoC & MAS, 2019).
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.
Figure 8: SARB wCBDC Zone (wCBDC Native “Net”)
Existing Systems**
CBDC Admin Console
RTGS
Existing Systems**
CBDC Admin Console
Existing Systems**
CBDC Admin Console
Existing Systems
CBDC Engine & Console
Orchestrate and maintain connections with existing systems (e.g., ledgers, limits, approvals, linked accounts, risk, ...)
DLT Network
CBDC Engine
DLT Node
CBDC Engine
DLT Node
CBDC Engine
DLT Node
As-is, with minor additions or extensions (e.g., new ledger entries)
Use Enterprise Integration to integrate with CBDC Engine
Maintain integrity of CBDC
Finalise and record all valid transactions
* RTGS, Reserve Accounts, Ledgers, Risk, Analytics, ... ** Payments, Ledgers, Risk, Fraud,, Analytics,...
26 PROJECT KHOKHA 2
DLT Network
Banks/Service Providers
SARB
Banks/Service Providers