BIS, SNB and World Bank advance promissory note tokenisation
Six other central banks tested the blockchain technology
The Bank for International Settlements says a project it recently conducted with the World Bank and the Swiss National Bank (SNB) has advanced the tokenisation of promissory notes.
Many multilateral development banks are partly funded by promissory notes, but the process is largely paper-based. The proof-of-concept blockchain, the results of which were published on April 23, aims to show how digital versions of promissory notes could enhance operational efficiency by addressing reconciliation
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