Wholesale CBDC Sample Application
A sample wholesale central bank digital currency (CBDC) application package using Oracle Visual Builder Cloud Service is included in Oracle Blockchain Platform Digital Assets Edition.
To use the package, you create a Visual Builder instance, import the package, and then configure it. After you've imported the sample application, you update the back end configurations with your instance URLs, set up authorization, and configure Business Objects as needed.
The web application, built using Oracle Visual Builder, lets you administer and work with tokens in the wholesale CBDC life cycle. After you provision Oracle Visual Builder in your tenancy, you can import the application. The application supports role-based access by users that are defined in identity domains. Roles include admins, officers, managers, auditors, and regular users at both the central bank and at participating institutions. You can modify the application using developer mode in Oracle Visual Builder.
This structured, role-based approach helps ensure that every stage of the CBDC lifecycle—from minting to burning—is secure, compliant, and transparent.
- Generic mode, which uses the
WholesaleCBDCchaincode for scenarios where transaction information can be shared across organizations. - Confidential mode, which uses the
WholesaleCBDCConfidentialchaincode for scenarios where sensitive transaction information must be secured. Confidential mode requires additional prerequisites and configuration.
Overview of the Sample Wholesale Central Bank Digital Currency Application
The end-to-end workflow of a wholesale Central Bank Digital Currency (CBDC) application involves multiple organizational roles, each responsible for specific functions that ensure CBDC issuance, management, and transfer of CBDC tokens. This journey is facilitated by a combination of system owner (central bank) roles and organization (financial institution) roles, with strict approval workflows to maintain security and regulatory compliance.
The process begins with the system administrator who initializes the token system and creates and manages the wholesale CBDC accounts. The system creator initiates the minting of CBDC tokens. When a minting request is submitted, it moves to the system approver, who reviews and either approves or rejects the request. Upon approval, the system creator transfers the newly minted tokens to the system issuer, who is responsible for distributing these tokens to various organization officers. This ensures that only authorized entities in the financial ecosystem receive CBDC tokens for further transactions.
At the organization level, the organization administrator manages and administers their specific organization, while organization auditors have read-only access to organizational data for oversight and compliance purposes. Organization officers play a key role in managing CBDC tokens within their institutions. They receive tokens from the system issuer and can distribute them internally to organization users or externally to officers in other organizations. However, any inter-organization or intra-organization transfers must first be approved by the organization manager, who reviews and authorizes hold requests to ensure secure and compliant transactions.
In parallel, the system includes mechanisms for managing the lifecycle of CBDC tokens beyond their initial issuance. When tokens need to be removed from circulation, the system retirer initiates a burning request. Similar to the minting process, this request goes to the system approver for approval. When approved, the CBDC burning process completes, ensuring the reduction of CBDC supply is properly documented and regulated.
Throughout this process, system auditors and organization auditors maintain oversight, with read-only access to ensure transparency and compliance with regulatory standards. While the system auditor can view all the transactions involving the system owner and participating organizations, organization auditors can view only the transactions where that specific organization was involved in the transaction.
Additionally, system administrators oversee and manage the entire CBDC system, ensuring that all roles, transactions, and processes align with central bank policies. They are responsible for system governance, user access management, and overall operational efficiency.