New users can click "International Business Daily" to follow. After more than three years of exploration, the multilateral central bank digital currency bridge project officially entered the Minimum Viable Product (MVP) stage this month. However, the project still faces certain challenges, such as potential network jitter due to the central bank nodes of the currency bridge being deployed in data centers within their respective jurisdictions.

In which aspects will the future multi-central bank digital currency bridge project be systematically enhanced? Let's find out together with the editor!

According to the latest disclosure by Mu Changchun, Director of the Digital Currency Research Institute of the People's Bank of China, the mBridge technology will undergo systematic enhancements in three areas: privacy protection mechanisms, the development and maintenance system of the system, and the openness and transparency of the mBridge platform.

Privacy Protection Mechanism Privacy protection plays a crucial role in safeguarding sensitive transaction details and ensuring compliance in cross-border transactions. Currently, the platform employs a pseudonym system, utilizing randomly generated key pairs and asymmetric encryption techniques to protect the privacy of both parties involved in transactions. In the future, privacy protection technology based on zero-knowledge proofs () will be developed and is planned to go live in the year. The design of zero-knowledge proofs allows for verifying the compliance and sufficiency of funds of the transaction parties without disclosing details such as account balances and transaction timestamps. This technology will effectively meet the dual needs of privacy and security while ensuring the operational efficiency of the entire system.

The development and operations maintenance system of the Currency Bridge system is deployed in a decentralized manner, with each party independently maintaining it. However, as a cross-border financial market infrastructure that operates on a regular basis, the Currency Bridge system requires an efficient development and operations maintenance mechanism to ensure the continuity of its business operations.

The openness and transparency of the Currency Bridge platform To enhance trust among participants, the source code of the Currency Bridge is currently fully transparent to all participating central banks. Next, it is planned to leverage DevOps systems to promote collaborative development, code delivery, code review, and continuous integration, continuous delivery, and continuous deployment.