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EU central banks work on DLT-based asset settlement
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cointelegraph.comEuropean central banks ramp up their efforts to utilize distributed ledger technology (DLT), the foundation of blockchain, in central bank money settlements.
Banca d’Italia and Deutsche Bundesbank, central banks of Italy and Germany, respectively, joined forces to work on settlements in central bank money of DLT-based asset exchanges.
The official announcement stressed that the primary goal of the joint workshop was not to use DLT as a replacement for conventional systems. Instead, the initiative aims to complement the current central bank money settlement practices with a programmable trigger mechanism that connects the DLT-based asset, like a tokenized security, and cash to be settled via conventional payment systems.
The proposed system
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