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BoE opts out of distributed ledger tech for new RTGS system

New central infrastructure needed for RTGS revival, BoE says

Bank of England night Getty 174788162
New infrastructure: "This blueprint sets out a vision of a renewed RTGS service that will safeguard financial stability whilst enabling innovation” – Andrew Hauser

The Bank of England’s (BoE) new real-time gross settlement system (RTGS) will not be built on distributed ledger technology (DLT) for fear that it is not “sufficiently mature” to form a core payments infrastructure, the central bank announced today (May 9).

Published in a blueprint, the BoE cited DLT as an option, but admitted the new RTGS service will require “new central infrastructure”.

The central bank has spent more than a year in talks with industry groups, which stressed the primary

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