Earlier this week, senior IMF officials talked up the role of a global platform to settle central bank digital currency transactions. That future may not be as far away as it seems
Boosting interoperability and speed while cutting risk, wholesale CBDCs would be a boon for cross-border settlements but are still very much in the experimental phase, making cooperation between central banks vital for success.
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Traditionally, interoperability is understood as the ability of different types of computer systems to exchange information, but in the context of blockchain, it is the ability to transfer real-world assets across different blockchains, while ensuring consistency. According to experts, cross-chain interoperability will ensure that growth and innovation continue, and accelerate the broad adoption of blockchain technology globally. However, cross-chain interoperability requires more than just technical skill.