by In the FT, Martin Arnold reports about a new cross-border payment method tested by the Bank of England. The “interledger” program transfers money “near-instantaneously and without settlement risk.” The Bank of England set up two simulated RTGS systems on a cloud computing platform, using the Ripple interledger to simultaneously process “a successful cross-border payment”. This is not necessarily good news for the blockchain community. The Bank of England’s proof of concept is “about connectivity between central bank systems rather than replacing the central bank systems with the blockchain,” [according to] Daniel Aranda, head of Europe at Ripple.
Topics:
Dirk Niepelt considers the following as important: Bank of England, Blockchain, Central Bank, Cross-border payment, Interledger, Notes, Payment, Payment system, Settlement
This could be interesting, too:
Marc Chandler writes FX Becalmed Ahead of the Weekend and Next Week’s Big Events
Fintechnews Switzerland writes 21Shares and Crypto.com Forge Strategic Partnership
Marc Chandler writes US Rates Extend Gains to Fray 4 percent
Fintechnews Switzerland writes Taurus Partners with Aktionariat to Launch Token Secondary Market for SMEs
In the FT, Martin Arnold reports about a new cross-border payment method tested by the Bank of England. The “interledger” program transfers money “near-instantaneously and without settlement risk.” The Bank of England
set up two simulated RTGS systems on a cloud computing platform, using the Ripple interledger to simultaneously process “a successful cross-border payment”.
This is not necessarily good news for the blockchain community. The Bank of England’s proof of concept is
“about connectivity between central bank systems rather than replacing the central bank systems with the blockchain,” [according to] Daniel Aranda, head of Europe at Ripple.