Provide Targeted Government Transfers (Government Vouchers)

Use Cases

About

Use Case Category	Use Case Description
rCBDC	This use case explores using programmable money tied to a digital currency to provide more targeted and restricted fiscal transfers from government agencies to citizens. Conditions can be embedded in the programmable money to direct spending.

Description

Key Stakeholders:

• Government agency

• Digital currency issuer

• Citizens receiving transfers

• Merchants accepting transfers

Story:

1. Government agency defines terms and conditions for programmable money

2. Digital currency issuer mints digital currency

3. Programmable money is created and distributed to citizens

4. Citizens spend programmable money at approved merchants

5. Programmable money conditions are evaluated

6. If valid, digital currency is released to the merchant as payment

Preconditions:

• Government agency wants to provide targeted transfers

• Digital currency and programmable money platform exist

• Merchants are enrolled to accept programmable money

Postconditions:

• Citizens receive and spend programmable money transfers as intended by policies

• Merchants receive payment in digital currency after validating program conditions

• Government agency gains visibility into targeted spending

Key Benefits:

• More targeted and restricted fiscal transfers

• Ability to direct spending to specific groups, places, etc.

• Improved efficacy of social programs

• Automated validation of transfer conditions

• Better visibility into targeted spending

Example Solution Provider

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Confirm if this involves crosschain or not.

OCBC Ltd (OCBC) and the Central Provident Fund Board (CPFB) will test the use of PBM for funds disbursement from government agencies, without requiring recipients to have a bank account. The trial will be conducted using a test disbursement scheme in a controlled environment with selected participants.

Source: MAS