Mu Changchun, Director of the Digital Currency Research Institute of the People's Bank of China: Systematic improvement of currency bridge technology from three aspects

Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, said at the Sibos 2024 annual conference "Multilateral Central Bank Digital Currency Bridge: Central Bank Digital Currency Connecting Global Economies" seminar held on October 23 that the Digital Currency Research Institute will carry out systematic improvement of the Currency Bridge technology in three aspects: First, the privacy protection mechanism. In the future, privacy protection technology based on zero-knowledge proof will be developed, and it is planned to be launched in 2025. The design of zero-knowledge proof can prove the compliance of both parties and the adequacy of funds of the transaction without disclosing details such as account balance and transaction timestamp. Second, the development and operation and maintenance system of the system. The Currency Bridge system is deployed in a decentralized manner, and all parties operate and maintain independently. Third, the openness and transparency of the Currency Bridge platform. To strengthen trust among participants, the source code of Currency Bridge is currently fully transparent to all participating central banks. In the next step, the Digital Currency Institute plans to use the DevOps system to advance co-development, code delivery, code review and continuous integration, continuous delivery and continuous deployment. At the same time, the Digital Currency Institute will work with the Bank for International Settlements to hire service providers to conduct third-party code review and open-source evaluation preparation to achieve full open-source.