Wholesale CBDC Sample Application
A sample wholesale central bank digital currency (CBDC) application package using Oracle Visual Builder Cloud Service is included in Oracle Blockchain Platform Digital Assets Edition, allowing you to create your own Visual Builder instance, import the provided package, and configure it.
Once you've imported the sample application, you'll update the backend configurations with your instance URLs, set up authorization, and configure Business Objects as needed.
The web application, built using Oracle Visual Builder, lets you administer and work with tokens in the wholesale CBDC life cycle. After you provision Oracle Visual Builder in your tenancy, you can import the application. The application supports role-based access by users that are defined in identity domains. Roles include admins, officers, managers, auditors, and regular users at both the central bank and at participating institutions. You can modify the application using developer mode in Oracle Visual Builder.
This structured, role-based approach ensures that every stage of the CBDC lifecycle—from minting to burning—is secure, compliant, and transparent, fostering trust and efficiency in the wholesale CBDC ecosystem.
Overview of the Sample Wholesale Central Bank Digital Currency Application
The end-to-end journey of a wholesale Central Bank Digital Currency (CBDC) application involves multiple organizational roles, each responsible for specific functions that ensure CBDC issuance, management, and transfer of CBDC tokens. This journey is facilitated by a combination of Central Bank (CB) system roles and Financial Institution (FI) organization roles, with strict approval workflows to maintain security and regulatory compliance.
The process begins with the CBDC admin who initializes the token system and creates and manages the wholesale CBDC accounts. CBDC Creator initiates the minting of CBDC tokens. Once a minting request is submitted, it moves to the CBDC Approver, who reviews and either approves or rejects the request. Upon approval, the CBDC Creator transfers the newly minted tokens to the CBDC Issuer, who is responsible for distributing these tokens to various Financial Institution (FI) Officers. This ensures that only authorized entities within the financial ecosystem receive CBDC tokens for further transactions.
At the financial institution level, the FI Admin manages and administers their specific organization, while FI Auditors have read-only access to organizational data for oversight and compliance purposes. FI Officers play a key role in managing CBDC tokens within their institutions. They receive tokens from the CBDC Issuer and can distribute them internally to FI Users or externally to officers in other organizations. However, any inter-organization or intra-organization transfers must first be approved by the FI Approver/FI Manager, who reviews and authorizes hold requests to ensure secure and compliant transactions.
In parallel, the system includes mechanisms for managing the lifecycle of CBDC tokens beyond their initial issuance. When tokens need to be removed from circulation, the CBDC Retirer initiates a burning request. Similar to the minting process, this request goes to the CBDC Approver for approval. Once approved, the CBDC burning process is completed, ensuring the reduction of CBDC supply is properly documented and regulated.
Throughout this journey, CBDC Auditors and FI Auditors maintain oversight, with read-only access to ensure transparency and compliance with regulatory standards. While the CBDC Auditor can view all the transactions involving central bank and any financial institutions, FI auditors can view the transactions where that specific FI was involved in the transaction.
Additionally, CBDC Admins oversee and manage the entire CBDC system, ensuring that all roles, transactions, and processes align with central bank policies. They are responsible for system governance, user access management, and overall operational efficiency.