Pure DLT systems not yet suitable for wholesale payments – Bank of Canada
The current state of distributed ledger technology makes it too inefficient to run as a pure system, researchers say
Distributed ledger technology (DLT) is still too inefficient to be a viable alternative to centralised wholesale payments systems, though elements of the technology could still prove useful, researchers at the Bank of Canada say.
The central bank published a report on its ‘Project Jasper’ experiment with DLT on May 25. “A pure stand-alone DLT wholesale payment system is unlikely to match the net benefits of a centralised wholesale payment system,” the researchers write.
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