The Deutsche Bundesbank and Deutsche Börse have tested the settlement of securities transactions using the innovative blockchain technology. This shared both institutions on Thursday in Frankfurt. The test involved two prototypes to support the settlement of securities transactions, payments, interest payments and repayments when a bond matures.
According to the Bundesbank, both procedures are suitable for operating a financial market infrastructure and can serve as a basis for further developments. “We expect a continued rapid development of the technology and also see the potential to apply this in high-volume systems,” said Federal Banking Burkhard Balz, according to the announcement.
The blockchain technique can be compared to an electronic ledger that can capture a lot of relevant data from transactions and is previously considered counterfeit-proof. The technology is best known for its application in the digital currency Bitcoin. While the hype about such cryptocurrencies has meanwhile subsided significantly, the blockchain technology among experts continues to be regarded as trend-setting for the efficient handling of transaction processes of various kinds.
The Deutsche Bundesbank and Deutsche Börse have successfully completed the performance tests of the two jointly developed security processing prototypes based on blockchain technology. The prototypes support the settlement of securities transactions, payments, interest payments and repayments when a bond matures. They were subjected to intensive performance testing on the basis of Hyperledger Fabric (version 1.0) and on the Digital Asset platform.
The tests showed that both prototypes are suitable for the productive operation of a financial market infrastructure and can serve as a basis for further developments. Both the Digital Asset Platform and the Hyperledger Fabric solution have evolved since then, so their current performance is likely to be even better.
“In this project, the Deutsche Bundesbank and Deutsche Börse have learned a lot about the use of blockchain technology and its concrete implementation, we expect continued rapid development of the technology and also see the potential to apply it in high volume systems Architecture, in which only admitted participants participate, has proved to be the right one, and is required to meet the regulatory requirements in the financial sector, “said Burkhard Balz, Member of the Board of the Deutsche Bundesbank.
image by shutterstock
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise