Central banks of Australia, Malaysia, Singapore and South Africa have given their tick of approval for the use of the Ethereum blockchain, a further sign that this crypto protocol is becoming dominant.
The Bank for International Settlements (BIS) has developed two prototypes for a shared platform that will allow for international settlements using digital currencies issued by multiple central banks.
Several central banks and the Bank for International Settlements have developed prototypes for a common digital currencies platform that has the potential to make cross-border payments more efficient.
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<li><span>Project Dunbar developed two prototypes for a shared platform that could enable international settlements using digital currencies issued by multiple central banks.</span></li>
<li><span>The platform was designed to facilitate direct cross-border transactions between financial institutions in different currencies, with the potential to cut costs and increase speed. </span></li>
<li><span>The project identified challenges of implementing a multi-CBDC platform shared across central banks and proposes practical design solutions to address them. </span></li>
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