Distributed ledger
Swift creates distributed ledger proof-of-concept
Swift, in conjunction with Hyperledger working group, will launch private distributed ledger network to help banks manage their cross-border payments
RBI research arm tests blockchain for clearing, settlement
IDRBT releases white paper on the applications of blockchain, examining the benefits for the Indian financial sector; research group created proof-of-concept architecture to simulate clearing network
2016: The year in review
The past year was characterised by dramatic political events, and central banks did not always manage to stay above the fray; we look back at some of the biggest stories
French central bank reveals details of blockchain experiment
Banque de France teams up with a fintech start-up to run distributed ledger tech through Sepa; the results of project expected to be presented at a conference in 2017
HKMA launches fintech accelerator
In partnership with Astri, initiative will “nurture” talent to meet the growing need for fintech innovation in the region
BoJ and ECB collaborate on distributed ledger tech
The project will examine the possibility of running central bank infrastructure platforms in a DL environment; research will focus on payments and securities settlement
Central banks ‘critical’ in the development of blockchain
Large South African commercial bank examines what a central bank digital currency would look like, coining the phrase “sovereign blockchain”
Federal Reserve conducts in-depth study into distributed ledger technology
Central bank publishes first paper discussing the benefits of distributed ledger technology in the realm of payments, and clearing and settlement; use of DLT could address “financial frictions”
Bundesbank unveils blockchain settlement system
Prototype system able to transfer digital coins or securities as well as settling “basic corporate actions”; Deutsche Bundesbank to continue working on project to create a test concept
Central Bank of West African States to regulate national digital currency
BCEAO to distribute digital currency first in Senegal before rolling it out across the west African bloc; 'eCFA' developed by regional bank and Irish fintech start-up eCurrency Mint
BoJ's Nakaso: central banks must keep up with technology
Deputy governor says central banks must adopt new payment technologies to meet demand, though the BoJ is not planning to issue digital currencies at present
Riksbank considering e-krona issuance – Skingsley
Cash use is declining, but people still need access to central bank money, raising the need for a central bank digital currency; design challenges remain, says deputy governor
MAS launches blockchain experiment
Central bank to build a proof-of-concept model to conduct interbank payments; second phase could include foreign currency transactions
Bank of Russia announces prototype distributed ledger networking tool
Central bank planning further DLT prototypes, deputy governor says; Russia is excluded from using prototype DLT tools used in Western countries
Decentralised tech will not become the new normal – SNB’s Jordan
There is a time and a place for distributed ledgers, says chairman of Switzerland’s SNB, but right now they cannot compete with existing FMIs
Questions need to be answered before DL technology becomes viable payments option – BoE’s Hauser
Challenges in the payments landscape could be overcome by new technology such as the distributed ledger, says Hauser, but too many “big questions” remain around such a scheme, relegating it to the realm of research
ECB publishes online newsletter on financial market infrastructure
Newsletter will be published three times a year, covering central bank’s work as operator and overseer of financial market infrastructure
Distributed ledgers ‘too much of a moving target’ to write business standards, says Swift
Paper addresses questions about how DLT automation can run smoothly in multi-party network environment; Swift recognises full-scale standardisation of distributed ledger use is premature
Central banks are not fintech accelerators – Bundesbank official
German payments authority says fintech should receive equal regulatory treatment to banks
Volatility in virtual currencies will not deter usage – new research
Model implies exchange rate will become less volatile as virtual currency becomes more established, questioning idea that volatility will impede use
‘Digital sterling’ could bring benefits but would reshape banking – BoE’s Broadbent
Bank of England deputy says central bank digital currency could entail a redesign of the banking system; research points to potential growth and stability benefits
Bank of Canada experimenting with distributed ledger technology
Wilkins tells audience the Bank of Canada has “rolled up its sleeves” with regard to fintech; central bank testing “CAD-coin” in conjunction with private sector
BoE launches fintech collaboration
Bank of England is working with fintech firms on innovations to support central banking, including its own distributed ledger; non-bank payment providers to gain direct access to RTGS system
Norges Bank deputy: lack of common infrastructure hampers faster payments
Limited collaboration between banks in Norway is hampering availability of real-time payments and causing Norway to fall behind, Jon Nicolaisen says