“The name Aber was selected because, as the Arabic word, for “crossing boundaries”, it both captures the cross-border nature of the project as well as our hope that it would also cross boundaries in terms of the use of the technology.”
-Saudi and UAE Central Banks issued a report at the one-year mark of Project Aber, a joint effort to establish ‘proof of concept’ for implementation of a central bank digital currency (CBDC) based on blockchain technology. The report concluded that a dual-issued CBDC was “not only technically viable” for cross border payments, but that CBDCs present “significant improvement over centralized payment systems in terms of architectural resilience.” [Cointelegraph]
