Germany’s central bank, Deutsche Bundesbank, has successfully completed two blockchain trials during its collaboration with Deutsche Börse, owner of the Frankfurt Stock Exchange.
The two blockchain prototypes were designed to test the technology’s potential in securities settlements, transactions, and payments, as well as bond repayments.
A joint press release on Thursday reveals that these aims were ”successfully” achieved, with the prototypes facilitating “productive operation of a realistic financial market infrastructure”.
Developed on Hyperledger Fabric and created by Digital Asset, the prototypes come from a joint blockchain research project dubbed BLOCKBASTER. The collaboration came together with the goal of developing a blockchain framework to transfer and settle securities and fiat currency.
The press release pointed to the recent upgrades on both Hyperledger Fabric and Digital Assets, saying they may well benefit the performance or the prototypes further if they are updated.
Berthold Kracke, CEO of Clearstream Banking and head of Clearstream Global Operations at Deutsche Börse Group, praised the tests for proving that blockchain can be the basis for financial settlement applications, as well as potentially for other financial infrastructures.
Burkhard Balz, member of the executive board at Deutsche Bundesbank, said that the positive results have encouraged them to continue experimenting with relevant blockchain use cases and pursue the implementation of the two prototypes further, citing that in particular, he sees a future use for them in processing ”high-volume applications”.
Deutsche Bundesbank is not the only central bank conducting blockchain tests, with the likes of Canada and South Africa already hosting similar trials.
Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.
Image Courtesy: Pixabay