The announcement comes as a wide range of stakeholders, including central banks and the White House, are calling for energy-efficient methods to bring financial services to consumers and businesses, as the need to reduce the carbon footprint remains essential.
Given the unique role of central banks in the financial sector, the acronym “GREEN” specifies five key principles that EMTECH believes should contextualize their financial stability and risk management mandate. Indeed, there is unprecedented value for central banks in:
Reinventing trust through transparency
Embracing sustainable energy use in the digital world
Foster innovation with basic infrastructure
Foster inclusive and resilient ecosystems
“EMTECH is making ‘going green’ more convenient for central banks with the GREEN CBDC framework,” said Carmelle Cadet, CEO and Founder of EMTECH. “As part of this, we present an actionable and grounded approach for central banks to harness the value of building trust, adopting sustainable technology while empowering ecosystem innovation. By providing the Tier 2 an energy-efficient treasury infrastructure, central banks can make the entire financial ecosystem greener by design.We believe this is having an impact.
The launch of GREEN CBDC Framework is a natural step for EMTECH, which already uses environmentally friendly technology to power its solution. Last year, he partnered with Hedera to minimize the power consumption of his solution.
Earlier this month, EMTECH’s CEO was released by NASDAQ on how the CBDC can contribute to a greener future.
“Developed and developing economies can adopt this Framework. A CBDC solution should not put more strain on fragile power infrastructure when operating at scale, and can be a viable step to reduce carbon footprint,” says Cadet.
Cadet will speak extensively about the benefits of EMTECH’s GREEN CBDC at the CBDC 2022 conference in Frankfurt, Germany on August 30. Meanwhile, the EMTECH team is ready to support Central Banks with the GREEN CBDC Toolkit which includes: Framework Adoption, Sandbox Pilot and Ecosystem Engagement. The CBDC platform and basic pre-built APIs are also ready for piloting.
EMTECH is building the next generation API-First core banking infrastructure. EMTECH provides software, data and services that connect central banks to other regulators and financial service providers. Our platforms power the exchange of regulatory data, the issuance of currencies and the movement of currencies in financial markets.
EMTECH is a diverse global company that makes financial ecosystems inclusive and resilient by design. For more information, visit www.emtech.com.