BIS is going to study the global interaction of Defi and digital currencies of the Central Bank – Bits Media

Bank of International Settlements (TO) launched a joint project with the central banks of Singapore, France and Switzerland to integrate certain function of decentralized finance and CBDC.

The team of the project of the global banking regulator called Project Mariana will study the use of automated market makers (AMM) For automation of foreign exchange markets, calculations and potential improvement of international payments.

AMM is a type of smart contract, which uses liquidity pools for automatic transmission of digital assets, Unlike the traditional process of comparing customers and sellers.

BIS representatives explain, that the concept of AMM protocols can become the basis for a new generation of financial systems, which facilitate the international exchange of state digital assets. The project is involved in the centers of the Eurosystem Innovation, Singapore and Switzerland BIS together with the Bank of France, Monetary control of Singapore (BUT) and Swiss National Bank.

The purpose of the study is, To the middle 2023 year to provide evidence of the possibility of interaction between the functionality of decentralized finance (DeFi) и CBDC. Head of the Bis Innovation Center Cecilia Skingley (Cecilia Skingsley) assures the importance of the project to cooperate interested parties.

Bank of International Settlements (TO) and central banks in Sweden, Last month, Norway and Israel were united for studying the potential of digital currencies of the Central Bank.