The Magyar Nemzeti Bank (MNB) has not decided about the potential introduction of any CBDC yet as no significant use-cases have been found so far. Further, Hungary is currently preparing to adopt Euro as its currency replacing Forint by year 2030.
Budapest University of Technology and Economics(BME) and MNB together participated in project Rosalind Techsprint. The main objective of Project Rosalind was to explore use cases for retail digital central bank money that foster competition through cooperation between the private sector and the central bank, while also introducing new functionalities that offer added value to users.
The BME-MNB team’s contribution to the project involved creating a real-time, blockchain-based, hypothetical energy price subsidy and incentive scheme. In this blockchain-based central bank digital currency solution, the entity providing the subsidy doesn’t transfer money upfront to the consumer and isn’t bound to a flat-rate subsidy. Instead, the contribution can be finely customized based on various criteria, such as financial need, encouraging energy conservation, or promoting sustainability. The system ensures transparency and security for all participants, and the criteria for providing support can be easily adjusted over time using smart contracts.
Sources:
https://www.mnb.hu/letoltes/penzforgalom-2030-strategia-en.pdf