Japanese bank demos blockchain payment solution

Japan’s big banks showcase fintech at Ceatec show — Nikkei Asian Review — “A smartphone app lets users buy MUFG Coin with yen from their bank accounts and send the digital currency to others. Remittance costs are kept low thanks to blockchain, the distributed ledger technology that underpins bitcoin. With MUFG Coin, wiring amounts of money too small to be practical under typical bank fees becomes possible, according to the lender.”


Germany’s central bank reports on potential of blockchain for payments

Bundesbank sees benefits in blockchain technology — Deutsche Bundesbank — “The Bundesbank’s experts see little prospect of DLT [distributed ledger technology] being put to widespread use in the field of individual and retail payments given the current state of the art… They see more potential for DLT in payments beyond the European currency area… There is currently no realistic prospect of central bank-issued digital currency being rolled out in the foreseeable future.”


Bank of England examines the technical requirements of central bank-issued digital currencies

Beyond blockchain: What are the technology requirements for a central bank digital currency? — Bank Underground — “What type of technology would you use if you wanted to create a central bank digital currency (CBDC) ie a national currency denominated, electronic, liability of the central bank? It is often assumed that blockchain, or distributed ledger technology (DLT), would be required; but although this could have some benefits (as well as challenges), it may not be necessary.”


Euro Banking Association paper analyses cryptotechnologies in international payments

Euro Banking Association paper analyses cryptotechnologies in international payments — Euro Banking Association — “Our information paper shows how this technology could support industry players in meeting user expectations regarding speed, transparency and cost. We strongly believe that collaborative initiatives in this area, in particular, could unlock significant value for payment service providers and their customers.”



R3 develops KYC registry using blockchain

Blockchain consortium R3 and 10 of its member banks have developed a proof-of-concept Know Your Customer (KYC) registry using distributed ledger technology to address the “challenges associated with satisfying regulatory requirements” and allowing identities to be managed by their owners... More


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