The instrument
| Question | Answer |
|---|---|
| Retail or wholesale, legal tender, whose liability | Set by the issuer's law, not by the platform. The platform models whatever the issuer defines as a Currency Object: issuer and issuing authority, reserve model, mint and burn authority, settlement rules, identity requirements, jurisdiction, and audit requirements. |
| Relation to commercial bank money | Set by the issuer. Domains connect to domestic finance through connectors. JIL does not custody that banking. |
| Who controls supply | The issuer, through its own key. JIL operates the validators and cannot mint. |
| Emergency powers | Freeze, limits, and suspension are the domain's published rules, enforced by ATCE. A corridor party may suspend new transfers on that corridor. JIL, as operator of the validators, can halt the chain. |
Finality
Technical finality is the seal on the block, and on a corridor it follows both the release authorization and the arrival determination. Legal finality, reversal, and dispute rights are set by the issuer's law and the corridor treaty, not by the platform. A denied act never settles, so there is nothing to reverse.
Fees: a corridor hop is a minimum of 5 basis points of settled gross, paid by the initiating root. A fee model for a sovereign issuer is a briefing topic.
Data residency
The chain holds hashes and attestation values, not names or documents. Validators run in data centers in Germany, Finland, Singapore, and the United States today. Validators hosted inside a sovereign's own jurisdiction, and the residency of the write-once record per jurisdiction, are set at licensing and are on the roadmap.
How JIL relates to the frameworks you already use
Described by category. No compliance or endorsement is claimed.
| Framework | What it is | How JIL relates |
|---|---|---|
| BIS and central bank group foundational principles for CBDC (2020) | Three principles: do no harm to monetary and financial stability, coexistence with cash and other money, and innovation and efficiency. | The issuer keeps monetary policy and issuance. The platform runs alongside existing money through connectors. JIL has not been assessed against these principles. |
| CPMI-IOSCO Principles for Financial Market Infrastructures | International standards for payment, clearing, and settlement systems. | JIL has not been assessed against the PFMI. A domain that is a systemically important system would be assessed by its own overseer. |
| Project mBridge | A multi-CBDC platform for cross-border payments among participating central banks. | JIL is a different design: each domain runs its own cell, and corridors are ruled on departure and on arrival. JIL is not a participant. |
| Project Agora | A BIS project exploring tokenized commercial bank deposits and wholesale central bank money on a unified ledger. | JIL keeps a separate ledger per domain rather than one unified ledger. JIL is not a participant. |
| ISO 20022 | The financial messaging standard. | An ISO 20022 message gateway (pain.001, pacs.008, pacs.009, pacs.002, pacs.004, camt.052 to camt.056, camt.029) is in the codebase. Rail connections are on the roadmap. |
Control
The domain holds issuance, its rulebook, and its corridor credential. JIL operates the validators. The full split is on control and custody and for governments.
Request a central bank briefing
A principal and an engineer attend. An NDA can be in place before documents are shared.