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BIS Project Aurum Phase 2 Tests Privacy-Preserving Digital Cash
A BIS Innovation Hub prototype combines cryptographic privacy tools with configurable compliance controls for digital cash; it is a research proof of concept, not a live payment system.
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The BIS Innovation Hub published Project Aurum Phase 2 on October 13. The research prototype builds on Aurum’s two-tier digital-cash architecture and adds privacy-enhancing technologies at the retail layer. It combines encryption, BBS+ signatures, pseudonym-based ownership and zero-knowledge proofs with configurable compliance mechanisms.
BIS presents the work as an exploratory proof of concept, not a deployed central bank digital currency or public payment service. The project examines a middle ground between complete anonymity and full transaction transparency. Its design separates responsibilities and data access while retaining payment-integrity controls.
The report also identifies trade-offs: stronger privacy may affect programmability, performance and operational complexity. The result is therefore a technical reference for further experimentation and policy discussion, not evidence that a central bank has approved or launched this architecture.
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Key takeaways
- //Project Aurum Phase 2 is an exploratory proof of concept rather than a production launch.
- //The prototype combines encryption, BBS+ signatures, pseudonymous ownership and zero-knowledge proofs.
- //BIS says stronger privacy can introduce trade-offs in performance, programmability and operational complexity.
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