Bank of England to Explore Distributed Ledger Tech for SettlementThe Bank of England has indicated it will consider the impact of distributed ledgers as part of a plan to modernize the country’s settlement system.
During a speech given at the Bank of England yesterday, Minouche Shafik, the central bank's deputy governor for markets and banking, laid out a four-point vision for the initiative, which has the mandate to deliver goals by the end of this year, with technological development beginning in 2017.
The blueprint will seek to answer four questions, Shafik said. These include defining the bank’s policy objectives, determining what functions the payment system should have, establishing who should be able to access the system and electing the right role for the Bank of England to play in the service’s delivery.
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