CandleFocus COTI Unveils CBDC Marketplace for Real-World Assets at Digital Shekel Challenge
2024-10-31
Author: Content Editor
COTI, a Layer 2 privacy blockchain, participated in the Bank of Israel's Digital Shekel Challenge and presented a decentralized marketplace concept for Real-World Assets (RWAs) powered by central bank digital currencies (CBDCs). COTI's submission aimed to simplify and secure transactions using the Digital Shekel, reducing fees, fraud, and conversion costs. The proof of concept focused on an event ticketing marketplace but could be expanded to other markets, enabling smoother cross-border asset exchanges. COTI's approach to CBDCs prioritizes privacy while maintaining transparency and financial freedom. The privacy-enhancing blockchain utilizes Garbled Circuits technology for secure, confidential transactions with low operating costs. Following its success at the challenge, COTI plans to develop additional CBDC applications that focus on privacy and enhanced digital commerce capabilities.
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