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I am reading literature relating to Central Bank Digital Currency(CBDC), I faced a termed called "Hybrid CBDC" from Lannquist,2020, p.7

I am looking for the meaning of this word but still not yet fully understood.

Hybrid CBDC architectures incorporate a two-tier structure with direct claims on the central bank while real-time payments are handled by intermediaries. Several variants of the hybrid architecture can be envisioned

In specific, what does "two-tier structure with direct claims on the central bank while real-time payments are handled by intermediaries" mean? Could you please explain it to me and/or give me an example?

Note: I asked this question in English Language exchange and they say that it is a jargon and should be asked in our exchange.

Phil Nguyen
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    The Central Bank would be involved, but some payment processing companies from the private sector would also be involved (for example the ECB would provide Digital-Euros to Visa and Paypal ("payment intermediaries") who would then make them available for payments between ordinary people like you and me. You and I would not have to deal with the ECB directly although they would be at the center and in charge of the whole thing). – nbbo2 Nov 21 '21 at 09:48
  • Thanks noob2, it makes sense to me – Phil Nguyen Nov 21 '21 at 09:58
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    "direct claims on the central bank" means you legally are a holder of central bank currency, but "real-time payments are handled by intermediaries" means when it comes time to pay someone you do it through an authorized payment intermediary, presumably one of many private companies that will compete with each other to provide this service. So it is a hybrid of "government only" and "private only". – nbbo2 Nov 21 '21 at 12:44

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