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Hard to not think the advent of crypto might have pushed this?

• jlongr 4y ago
  Judging by the article, it sounds like they are reaching for technological parity with other governments around the world: >In fact, among the many countries that have either developed or are in the process of developing instant payment capabilities, the vast majority have done so with the direct operational involvement of their central banks. This progress means that the U.S. retail payment system lags behind systems in other countries. Furthermore, they don't have confidence in the private sector to achieve this sort of thing: >Based on its assessment, the Board concluded that private-sector real-time gross settlement services for instant payments alone were unlikely to provide an infrastructure for instant payments with reasonable effectiveness, scope, and equity. In particular, private-sector services are likely to face significant challenges in extending equitable access to the more than 10,000 diverse depository institutions across the country.
• rvz 4y ago
  The truth and the fact is that it already has and only a few crypto projects are compliant with the ISO 20020 standard such as XRP (RippleNet), Algorand, Stellar Network, etc which are becoming compliant with the standard to be used for that use case. The furthest and the most compliant crypto project compatible with the ISO 20020 standard which fits this use-case so far is XRP.