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ECB explores new means of wholesale central bank money settlement
- akira_f 3y agoThe Eurosystem is exploring potential solutions for central bank money settlement of wholesale financial transactions recorded on distributed ledger technology (DLT) platforms. The work is part of the Eurosystem’s broader efforts to ensure that central banks keep pace with and contribute to digital innovation in wholesale and retail payments. Learn more about the background and intended purpose of the work. In this focus session, demos from three European central banks: Deutsche Bundesbank, Banca d'Italia, and Banque de France are displayed in the video. Video link: https://www.youtube.com/watch?v=m5z3uoMH3Fw https://www.youtube.com/watch?v=m5z3uoMH3Fw Technical documents about each solution provided by all three central banks, including the architecture, the process description, and the message formats can be found in this page, in the Annexes section: https://www.ecb.europa.eu/paym/intro/news/html/ecb.mipnews231213.en.html https://www.ecb.europa.eu/paym/intro/news/html/ecb.mipnews23... What do you think about these three proposals?
- pestatije 3y agoi thought distributed ledger technology was dismissed as useless for anything but crypto a while ago https://ia.acs.org.au/article/2022/asx-scraps-blockchain-project-after-7yrs-and--250m.html https://ia.acs.org.au/article/2022/asx-scraps-blockchain-pro... > The report found a series of significant issues with the solution put forward, including around high latency, concurrency, batch processing and technical constraints
- akira_f 3y agoECB would like to enable interoperability between "market DLT platforms" and the existing settlement mechanisms. In Europe the latter part is the TARGET Services: https://www.ecb.europa.eu/paym/target/html/index.en.html https://www.ecb.europa.eu/paym/target/html/index.en.html
- akira_f 3y agoThis report from the Australian Stock Exchange is indeed interesting, thanks! :-)