BoE opts out of distributed ledger tech for new RTGS system
New central infrastructure needed for RTGS revival, BoE says
The Bank of England’s (BoE) new real-time gross settlement system (RTGS) will not be built on distributed ledger technology (DLT) for fear that it is not “sufficiently mature” to form a core payments infrastructure, the central bank announced today (May 9).
Published in a blueprint, the BoE cited DLT as an option, but admitted the new RTGS service will require “new central infrastructure”.
The central bank has spent more than a year in talks with industry groups, which stressed the primary
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