The Bank of England and the Bank for International Settlements (BIS) introduced distributed ledger technology ( DLT) successfully tested.
Bank of EnglandReal-Time Gross Settlement used by central banks ( RTGS) systems by Bank for International Settlements ( BIS) collaborated with
Allows Faster and Cheaper Transactions
Project MeridianThe prototype created concurrently has the potential to reduce these issues by allowing faster and cheaper processes.
BIS April 19 In , published a report on a joint pilot project with the Bank of England called Project Meridian. According to the 44-page report, banks have successfully purchased a home in Wales and England via a synchronization network using distributed ledger technology.
According to the report, synchronization network using APIs and RTGS The messages sent between the system provide an interface that can be expanded relatively easily compared to other asset classes such as foreign currency. It is thought that this can reduce the time, cost and risks of transactions.
In March, the BIS surveyed Israeli, Norwegian and Swedish central banks and international retail and remittance payment examples for CBDCs. Project IcebreakerHe stated that he had completed the
