Note from the CEO: Seems all the really exciting news is coming out of Europe today. Guess they have nothing better to do than jump out in front of us here in North America in fintech innovation. But, president-elect Trump has Peter Thiel in his group so watch out world, here comes the US to catch up with the German central bank.
Deuutsche Bundesbank, the German central bank, the most influential member of ESCB is unveiling a working model of a Blockchain technology-based settlement of securities. Collaborating with the Deutsche Borse, the main marketplace for securities, the project is not quite market ready just yet, but the very fact that a central bank and an exchange operator are working together on a distributed ledger technology is really big. This article demonstrates how blockchain is rapidly being adapted globally at the highest levels.
“German central bank, Deutsche Bundesbank, which is also the most influential member of the European System of Central Banks ESCB due to its strength and former size, announced the unveiling of a functional prototype of a Blockchain technology-based settlement of securities.
Jointly presented with Deutsche Börse, the marketplace for the trading of shares and other securities, the prototype is the first result of a collaborative research project between the two institutions that is based on a conceptual study and not market-ready.
Designed to provide the technical functionality for the settlement of securities in delivery-versus-payment mode for centrally-issued digital coins and the pure transfer of either digital coins or digital securities alone, the two institutions plan to develop the prototype further over the next few months so that they can analyze the technical performance and the scalability of this kind of Blockchain-based application.”