GULORI

Inspiration

Government achieved digitization of large number of payment transactions using network centric solution. A breakthrough is yet to be achieved to transform all CASH TRANSACTIONS (person-to-person OR P2P) into DIGITAL TRANSACTIONS in network independent environment.

What it does

CBDC - GULORI solution would enable Government(s) to eliminate paper currency notes, if required.

How we built it

CBDC-GULORI solution, currently, is in the Ideation stage.

Challenges we ran into

The main challenges were :

• Even an uneducated person should be able to use.
• There should not be any dependency on communication network of any services provider.
• Continue to recognize and respect Central Bank OR RBI as custodian of solution.

Accomplishments that we're proud of

CBDC-GULORI solution has :

• Distinctive advantage over BlockChain / DLT based solution.
• No overloading of CBDC functionalities with core-banking functionalities.
• No separate payment network for CBDC transactions.
• No concept of Retail Or Wholesale CBDC.
• Network independent and user-friendly.
• Physically challenged person should be able to use smoothly.

What we learned

Cash transaction between two person is possible only when both are within hand-shaking distance.

If these two persons are geographical distance apart, number of solutions to undertake transactions already available before them.

Likewise, any CBDC solution should focus to transform all CASH TRANSACTIONS (person-to-person OR P2P) into DIGITAL TRANSACTIONS in network independent environment.

Please recall, there is no distinction between Retail currency notes and Wholesale currency notes. Therefore, no distinction Retail-CBDC and Wholesale-CBDC should be introduced for CBDC to make it more operationally complex.

What's next for GULORI

Seeking (seed) funding to move from Ideation stage to Prototype stage.

Built With

• cbdc-gulori