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World economic forum: More than 40 Central banks are experimenting with crypto-currencies

the a Total of 40 Central banks are experimenting currently currencies with Crypto. According to a report by the world economic forum. This keep, however, less

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World economic forum: More than 40 Central banks are experimenting with crypto-currencies
the a Total of 40 Central banks are experimenting currently currencies with Crypto. According to a report by the world economic forum. This keep, however, less to the decentralization of Bitcoin & co. a Lot more banks seem to be Central to his Coins planned.

By Phillip Horch
5. April 2019BTC$5.006,74 0.17%part Facebook Twitter LinkedIn xing mail

Bitcoin and Central banks tolerate, strictly speaking, is not very good. Rather, the White Paper of Satoshi Nakamoto came to the traditional financial system on a decentralized Player counter: Bitcoin, the electronic Cash System based on a Peer-to-Peer.

now, ten years later, a total of 40 different Central banks with crypto currencies experimenting, had, and the unknown inventor of Bitcoin is probably not a dream. And yet: The latest report by the world economic forum in Davos, confirmed the. But, as so often may not be fooled here, the title above the content. After all, the "experiment" of the banks is to send each other Bitcoin, or Ripple. Rather, it goes to the respective banks to the use of Distributed Ledger technology (DLT), in order to strengthen the infrastructure of their own.

the world economic forum identified ten areas of application

the Central banks to experiment, according to the report, in at least one of the following areas.

Retail Central Bank Digital Currency. The "classical" Central Bank money in electronic Form. Is used as a replacement for physically moving cash.Wholesale Central-Bank Digital Currency. As above. However, for trade among banks and Clearing Houses.Interbank Securities Settlement. A crypto currency is here to help to clarify the trading of securities between banks.Payment System Resiliency and Contingency. Use the DLT to payment processes within the banks.Bond Issuance and Lifecycle Management. Bond issue on DLT. International spread is conceivable.Know-Your-Customer and Anti-Money-Laundering. The classics, when it comes to money: don't Know your customer and ensure that you wash your money with you.Information exchange and data sharing. Distributed databases will help the exchange of information.The Trade Finance Business. Trade Finance on decentralized databases.Cash Money Supply Chain. Tracing of cash such as from factories to Central banks in terms of Regulatory requirements.Customer SEPA Creditor Identifier (SCI) provisioning. Block chain-based matching of customer data.

Ultimately, a number of Central banks seem to work to improve the internal System through the use of the DLT and its offshoot, the Blockchain technology.

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