On Wednesday, the Banque de French republic (BdF), the BIS Innovation Hub (BISIH) and the Swiss National Bank (SNB) appear the success of a pilot run of a wholesale central bank digital currency (wCBDC), titled Project Jura. The projection, which aimed to investigate cross‑border settlement with euro and Swiss franc wCBDCs, was launched on a third‑party distributed ledger engineering science platform.

The experimental engineering explored in Project Jura consisted of a decentralized peer‑to‑peer network of computer nodes (Corda) to validate transactions while simultaneously ensuring that all legal, regulatory and concern rules of governing nations are satisfied. And then, there was the tokenization of the same fiat currencies and the Negotiable European Commercial Paper, a short-term maturity (one twelvemonth or less) debt instrument denominated in euros. Finally, Project Jura looked into infrastructure networks that enable real‑time gross settlement of transactions, bail digitization and a digital assets registry.

Although the trial was successful, it does not guarantee the issuance of a wCBDC past Swiss, French or European union government. The report ended that "wCBDCs could be incorporated into novel settlement arrangements that could modify the construction and functioning of capital markets, coin markets and strange substitution markets," saying that:

"Broadening the use of central bank money through wider access or increased cross‑edge settlement could catalyse these changes, as could deeper integration of currencies with other digital assets and securities."

Experimental Architecture of Digital EUR/CHF | Source: BISIH