BIS Innovation Hub and Bank Indonesia announce winners of G20 TechSprint

G20 TechSprint 2022

Press release  | 
12 October 2022
  • Teams developed innovative technological solutions to advance usage of central bank digital currencies 
  • The winning teams were Dragonfly Fintech from Singapore, Bitt-IDEMIA from the US and Partior from Singapore 
  • Competing teams have developed solutions to enable issuance, distribution and transfer of CBDCs; financial inclusion; and improved interoperability

The Bank for International Settlements (BIS) and Bank Indonesia today announced the winners of the G20 TechSprint 2022 challenge during a live award ceremony in Jakarta.

This year's competition, under the Indonesian G20 Presidency, was launched in April to catalyse new technologies that would better enable the development and future use of central bank digital currencies (CBDCs). 

An independent panel of 11 experts, convened by Bank Indonesia, assessed the developed prototypes from the 21 shortlisted teams and selected the following winners for each category: 

  • Team Dragonfly Fintech Pte Ltd from Singapore won the "Effective and robust means to issue, distribute and transfer CBDCs" category for their solution End-to-End CBDC Solution, which is a proprietary blockchain ledger with unique in-built features and includes a mobile wallet and digital identity platform. 
  • Team Bitt-IDEMIA from the US won the "Enabling Financial Inclusion" category for their solution Secure Offline CBDC Payment Solution, which is a platform that allows monetary authorities to launch interoperable CBDCs while also leveraging on a layer-2 solution to enable offline payments. 
  • Team Partior from Singapore won the "Improving interoperability" category for their solution Project Naucratis: Enabling Connectivity & Interoperability for mCBDC, which is a blockchain-based multi-CBDC network that supports both account-based and token based CBDC models.

This TechSprint has allowed us to improve our practical work on CBDCs. These technological solutions add to the central banks' toolbox and provide a springboard for further development of CBDCs. Our heartiest congratulations to the winning teams.

Cecilia Skingsley, Head of the BIS Innovation Hub

For more details about TechSprint, see

List of judges

  • Prof. Duan Jin-Chuan, Executive Director, Asian Institute of Digital Finance
  • Ms. Katie Fortune, Senior Manager, CBDC Unit, Bank of England
  • Ms. Lyle Horsley, Divisional Head, Fintech Unit, South African Reserve Bank
  • Ms. Anneke Kosse, Senior Economist, Committee on Payments and Market Infrastructure
  • Mr. Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore
  • Mr. Mu Changchun, Head of Digital Currency Institute, People's Bank of China
  • Ms. Iota Nassr, Policy Analyst, Directorate for Financial and Enterprise Affairs, OECD
  • Mr. Harish Natarajan, Lead Financial Sector Specialist, Finance, Competitiveness & Innovation, World Bank
  • Ms. Sandra Ro, CEO, Global Blockchain Business Council
  • Ms. Pia Roman Tayag, Director of the Office of the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA)
  • Ms. Katie Ann Wilson, Managing Director, Digital Monetary Institute, OMFIF

Related information