The Bank for International Settlements has said its Project Tourbillon has demonstrated central bank digital currency (CBDC) can provide cash-like anonymity. However, the bank says cryptography technology will need to improve before it can create a suitably speedy payment network.

The project created a dashboard for central banks to monitor aggregate CBDC use, withdrawals and redemptions. “Tourbillon shows that central banks can monitor the aggregate use of CBDCs in real time without seeing any