NEW YORK, NY, Aug. 28, 2022 (GLOBE NEWSWIRE) -- In an exciting move, EMTECH, an award-winning software company and first-of-its-kind Modern Central Banking Infrastructure Provider, unveiled today The G.R.E.E.N. CBDC Framework to help central banks unlock unprecedented value in deploying a Central Bank Digital Currency (CBDC).
The announcement comes as a broad set of stakeholders including Central Banks and the White House, call for energy-efficient methods of bringing financial services to consumers and businesses, as the need to reduce carbon footprint remains critical.
Given the unique role of central banks in the financial sector, The acronym “G.R.E.E.N.” specifies five key principles EMTECH believes should contextualize their mandate of financial stability and risk management. Indeed, there is unprecedented value for central banks in:
Governing for impact
Reimagining trust through transparency
Embracing sustainable use of energy in the digital world
Empowering innovation with core infrastructure
Nurturing inclusive and resilient ecosystems
“EMTECH is making ‘going green’ more practical for central banks with The G.R.E.E.N. CBDC Framework,” says Carmelle Cadet, CEO and Founder of EMTECH. “In this framework, we present a feasible and grounded approach for central banks, to tap into the value of building for trust, embracing sustainable technology while also empowering ecosystem innovation. By providing the Tier 2 layer an energy-efficient cash infrastructure, central banks can make the whole financial ecosystem greener by design. We think that’s impactful.”
The launch of G.R.E.E.N. CBDC Framework is a natural step for EMTECH, which already utilizes environmental-friendly technology to power its solution. Last year it partnered with Hedera to minimize the energy usage of its solution.
Earlier this month, EMTECH’s CEO was published by NASDAQ on how CBDC can help drive a greener future.
“Both developed and developing economies can adopt this Framework. A CBDC solution should not put more pressure on fragile power infrastructures when running at scale, and can be a viable step to reduce carbon footprint," says Cadet.
Cadet will speak at length on the utilities of EMTECH’s G.R.E.E.N. CBDC at the 2022 CBDC Conference in Frankfurt, Germany on August 30th. Meanwhile, the EMTECH team is prepared to support central banks with the G.R.E.E.N. CBDC Toolkit which includes: Framework Adoption, Sandbox Pilot, and Ecosystem Engagement. The pre-built core CBDC platform and APIs are also ready for piloting.
You can learn more about G.R.E.E.N. CBDC at Greencbdc.com and Emtech.com.
About EMTECH
EMTECH builds the next generation API-First Central-Banking Infrastructure. EMTECH provides software, data and services that connect central banks to other regulators and financial services providers. Our platforms power regulatory data exchange, currency issuance and currency movement in financial markets.
EMTECH is a diverse global firm that makes financial ecosystems inclusive and resilient by design. For more information, visit www.emtech.com.
