From Finextra:
An R3 academic paper on central bank digital currencies (CBDCs) investigates the relative merits of a public network-based retail Fedcoin option and the private, permissioned wholesale CAD-coin alternative.
With central banks around the world exploring the introduction of CBDCs, two different models have emerged: the CAD-coin, where a central bank issues a currency against some of its assets, and the Fedcoin, where a central bank issues a new type of currency that becomes a liability on its balance.
Read the full paper: Download here