Friday
April 5
2019

10 ways central banks are experimenting with blockchain

By Ashley Lannquist

While research and experimentation with blockchain technology across sectors has been underway for several years, few organizations have deployed it. Although central banks are among the most cautious and prudent institutions in the world, a new white paper published by the World Economic Forum indicates that these institutions, perhaps surprisingly, are among the first to implement blockchain technology.

Central bank activities with blockchain and distributed ledger technology (DLT) are not always well known or communicated. As a result, there is a lot of speculation and misunderstanding. Yet dozens of central banks around the world – from Sweden to South Africa to Singapore – are actively investigating whether blockchain can help solve long-standing issues in banking, such as payment-system efficiency, payment security and resilience, as well as financial inclusion.

Photo courtesy of Joey Kyber.

Source: World Economic Forum (link opens in a new window)

Categories
Technology
Tags
blockchain, financial innovation, technology