FG DFC
(Established 2017-05; Terminated 2019-06)
The ITU-T Focus Group on Digital Currency including Digital Fiat Currency (FG DFC) was established in May 2017. The main objectives of the Focus Group were:
- Study the economic benefit and impact of introducing DFC over mobile money;
- Investigate the ecosystem of digital fiat currency implementation for financial inclusion;
- Map the functional network reference architecture and process components required to implement digital fiat currency and integration with existing payment systems for interoperability;
- Identify use cases, requirements and applications of digital fiat currency;
- Develop better understanding of the security, regulatory implications, consumer protection, fraud prevention and counterfeiting issues of DFS and how can digital fiat currency can address these concerns;
- Identify critical sovereign security, transparency and verifiability of DFC technology and provide guidelines towards the escrow of critical software and hardware components to ensure trust and verifiability; and
- Identify new areas for standardization in ITU-T Study Groups.
The Focus Group completed its work on 14 June 2019 and submitted its report (including seven deliverables) to TSAG. The reports of the Focus Group are shown below.
Parent Group:
TSAG
