BIS Finds Digital Cash Privacy Promise, Warns Prototype Isn't Ready
The Bank for International Settlements said its Project Aurum Phase 2 prototype shows digital cash can provide cash-like privacy, but the system is not ready for production. The report found that a breach at one bank could expose that bank's customers' data without revealing identities tied to other counterparties, and compromising a validator alone would not identify users. It also noted ongoing privacy concerns around central bank digital currencies, including Brazil's pilot code and the U.S. ban on a federal CBDC.
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The BIS published Project Aurum Phase 2 findings on Oct. 13, 2026. Using
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