Bank of England to Open New Payment System to Blockchain Users
The Bank of England is executing a complete overhaul of its interbank payment system, and officials have now confirmed that it will open the network to fintech firms that process transactions across a blockchain network. The British central bank on Monday published a report evaluating its recent Proof-of-Concept (PoC) with several firms operating in the distributed ledger technology (DLT) space, a test intended to examine the feasibility of connecting blockchain firms to an updated version of the bank’s Real-Time Gross Settlement (RTGS) service...
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