The Central Bank of Germany tested the settlement of securities using DLT – Bits Media

Central Bank of Germany announced successful testing of settlements for securities transactions with Deutsche Börse, which used distributed ledger technology (DLT).

According to a statement by the German Federal Bank, CB successfully completed Testing of calculations on transactions with securities using DLT and a real -time gross calculation system Target2. An atomic transaction was made, meaning, that the payment of the Central Bank and securities simultaneously exchanged in the transfer transactions against payment.

The desire to provide the possibility of conducting calculations on transactions with securities using DLT - a key factor in demand for state cryptocurrency for wholesale payments. Hence, If such a bridge, non -related, can work reliably on a scale, Demand for wholesale digital currencies of the Central Bank will become less acute.

Speaking at the conference of the Bank of International Settlements (TO) this week, Chairman of the German Federal Bank Jens Weidmann (Jens Weidmann) talked about testing in the context of state cryptocurrency for wholesale payments.

“Some of the positive effects of state cryptocurrency can also be achieved, eg, Due to the tokenized money of commercial banks. If we are talking about automatic payments and programmable money, then this does not have to be state cryptocurrency. We are currently working on the project of the so -called trigger solution. We have a closed blockchain, through which payments in our Target2 system are initiated by the money of the Central Bank ", He said.

The financial agency of the federal government used a DLT system for the release of ten -year federal bonds with calculations through a distributed register. Member of the Board of the Central Bank of Germany Burkhard Baltz (Burkhard Balz) said:

“After successful testing, the Eurosystem should be able to realize such a solution for a relatively short period of time - at least, for much less time, than that, which is required for the release of state cryptocurrency ".

Several banks participated in the testing of the Central Bank of Germany, Including Barclays, Citibank, Commerzbank, DZ Bank, Goldman Sachs и Société Générale. Known, that there were two software modules: The trigger chain on the KB side and the coordinator of transactions from Deutsche Börse. Only after confirming both parties to the transaction, securities and money passed from hand to hand.

Recall, what else in 2018 The year of the Central Bank of Germany successfully tested the blockchain to resolve securities calculations along with Deutsche Börse.