I do not see anything new coming with this news, as all the banks say "OK" to the blockchain technology.
Also, the bank aims at a long-term policy to curb hacker's attacks by developing a system "blockchain or whatever" until 2020.
In general, if this is true, we may see in the future that all financial systems built on blockchain "Centralized --> banks and decentralize ---> cryptos."
Topic: BoE on the potential of the blockchain!! (Read 151 times)
The Bank of England has updated its payment system using distributed ledger technology in order to boost the development of blockchain in Britain.
BoEs is aiming to modernize its Real-Time Gross Settlement system (RTGS) which is necessary for banking and trading in Britain. It also manages the transaction worth of £500 billion yearly, or handle a third of the country’s economic output. However, the updated system is to be launched in 2020 with challenging to cyber-attacks. Therefore it can also be widely available to all small business.
BoEs is aiming to modernize its Real-Time Gross Settlement system (RTGS) which is necessary for banking and trading in Britain. It also manages the transaction worth of £500 billion yearly, or handle a third of the country’s economic output. However, the updated system is to be launched in 2020 with challenging to cyber-attacks. Therefore it can also be widely available to all small business.
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