Blockchains and central banks – what have we learnt?

This article was first posted on r3.com

Over the past couple of years, R3 has worked closely with a number of central banks to explore if distributed ledgers could support their policy goals, and I have had the privilege to participate in a number of these projects.

What have we learnt?  What is important?  What do central banks care about?  While I can’t speak directly for individual organisations, I have collated my own thoughts, and wanted to share these ahead of the Singapore FinTech Festival this year (13-17 Nov) when the results of Singapore’s “Project Ubin” experiments will be announced.

Update (post FinTech Festival): Read about the Open Sourcing of “Corda for Central Banks“!

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Blockchains and cyberwar: Why the next wave of interbank settlement systems will be decentralised

Currently a number of central banks around the world are exploring two things:

  1. A decentralised interbank payment system
  2. A central bank digital currency

Though often conflated, these are slightly different concepts.  You can decentralise your interbank payment systems without allowing the public to have digital access to the central bank’s balance sheet, and vice versa.

This short post is about the first set of experiments: decentralising the interbank payment systems.

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A gentle introduction to The Hyperledger Project

A gentle introduction to The Hyperledger Project

I have noticed a great deal of confusion when people talk about “Hyperledger”.  I recently gave a talk about this at a meetup hosted in Paypal’s offices in Singapore.  This article summarises the talk.

Hyperledger is a project, not a technology, and you don’t build stuff on Hyperledger.

When people ask, “What is Hyperledger?”, the answer I give is usually “Do you mean the project called Hyperledger run by The Linux Foundation, or do you mean one of the ledger technologies incubated by that project which used to be confusingly called Hyperledger Fabric?”. The first is a group of people, the second other is a bunch of code.

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KPMG Report on Consensus: Interview with co-author George Samman

KPMG Report on Consensus: Interview with co-author George Samman

Q&A with George Samman, co-author of KPMG’s report: “Consensus: Immutable agreement for the Internet of value”

This interview is posted on both www.sammantics.com and www.bitsonblocks.net. Interviewer is Antony Lewis (AL) and interviewee is George Samman (GS).

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Big wow for blockchain collaboration amongst banks

I love it.  R3 brings eleven major global financial institutions together on a cloud based distributed ledger 

This is a win for collaboration, blockchains and the frequently-bashed banking industry.  It’s exciting enough to write about at 3am.  It’s exciting because it paves the way for collaborative innovation.  It’s not a major triumph for technology or blockchains, yet, but it’s by far the best that I’ve seen so far.

It is significant in itself that individuals in nine of the eleven banks have cleared blockchain-related comments with their respective communications departments.  That in itself is “positive for blockchains”.  Internal processes make it difficult for staff to make even hand-waving vague comments in the real press.  So that’s a win.

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