40 central banks are considering implementing blockchain

posted 6 months ago
The World Economic Forum reported that more than 40 Central Banks around the world are considering introducing blockchain technology and / or issuing their own digital currencies. The report, which examines how central banks study technology, mentions the report of the Bank of International Settlements (BIS) for January 2019 and notes how these 40 banks study the use of blockchain to improve payment time, overall efficiency and security.

Various banks are mentioned and the extent to which they have implemented the blockchain initiatives, including the Bank of France, which has fully deployed the technology. The central banks of England, Canada, Singapore, Lithuania, and banks in the Caribbean are moving forward. Over the next four years, many Central Banks will decide whether they will use blockchain to improve their processes and economic well-being. Overall, the report has a positive view on the benefits of using distributed ledger technologies, although it notes that there is a risk, given that the technology is still in its early stages of development.
Tags: blockchain, news