The Bank of Spain, through a recent disclosure, states that it will start its own relevant program with CBDC, according to a document released on December 5, announcing the program which will be based on digital tokens and that Also states that the institute is seeking the cooperation of the companies in the industry who will be able to prepare and execute their proposal and will definitely try their best to make this event a success where the institute clarifies That this program has nothing to do with the efforts of the European Union on the research of the digital euro and that there is no such plan. Wherein the aim of this new program is to develop the type of currencies through which it can be stated that there is a test of advantages and the settlement process is extremely easy. Whereas all these proposals will be received by the banks by 31st January and for possible selection each proposal will be evaluated and proposed to them at a good level and they will have to be proposed in a period of more than 9 months starting from 3rd April end by December 29, 2023 and will be facilitated by banks issuing extensions based on a number of factors and simplifying the selection process as documented and most of the ongoing experiments and trials in the CBDC space also involve single currency data and The bank is also interested in a wholesale currency at the office with the objective of encouraging the settlement of transactions and other functions between these institutions and to execute them to an optimal standard.
These include documents describing the use of three key tasks that must be accomplished. The first task is to facilitate transactions, while the second task is the full integration and ability to work with CBDCs and the liquidation and potential of financial assets. Analyzing the profit process and finding and eliminating the loopholes in the way CBDCs work through traditional methods. Where the institution has never given specific details about a hypothetical wholesale currency in Spain or about implementing a common currency system for Internet banking transactions, but other than that it has been able to implement the currency through symbols. Tells about the goal which is quite precise and simple. Surely the CBDC token that will be launched by the Bank of Spain will be of great importance and can be of great benefit to the users as this token is designed keeping in mind the whole approach and protocol of the users where according to the documents In order to make its event good, definitely the bank will introduce new presentations and work with the desired benefit in its law and its record material which is very much necessary and it is necessary for the bank to keep these Comply with all laws and represent the CBDC token as a successful token.
