Banca d’Italia and Deutsche Bundesbank shared experiences on distributed ledger technology-based settlements in a workshop.
European central banks have been ramping up their efforts to utilize distributed ledger technology (DLT), the foundation of blockchain, in central bank money settlements.Banca d’Italia and Deutsche Bundesbank, the central banks of Italy and Germany, respectively, joined forces to work on settlements in central bank money of DLT-based asset exchanges. The official announcement stressed that the primary goal of the joint workshop was not to use DLT as a replacement for conventional systems. Instead, the initiative aims to complement the current central bank money settlement practices with a programmable trigger mechanism that connects the DLT-based asset, like a tokenized security, and cash to be settled via conventional payments systems.The proposed system would minimize the counterparty risk for bot
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