Another big Digital Bank Currency project selects Tezos and Ethereum: the DIBC

Another big Digital Bank Currency project selects Tezos and Ethereum: the DIBC

By Allen Walters | Publish0x posts | 18 Nov 2020


This project will focus on interbank transactions. This is different from the previous Central Bank Digital Currency (CBDC) project from Banque de France. CBDC focuses on the development of a "stable coin" that will represent a digital form of banknotes where you will be able to hold digital Central Bank money. As explained in my previous article, this is quite different from the money you transfer by public bank transfers. 

The DIBC (Digital Interbank Currency) project is exploring possibilities of the exchange of assets and fiat on blockchain.
Assets in digital form are well known in the Tezos ecosystem as digital securities, or security tokens which are issued regularly on Tezos in the form of STO's. Tezos has established itself as an authority in this field, which materialized in the past months in over $100 million worth of STO launches and close to half a billion worth of STO's announced on Tezos in the past couple of months.
Fiat in digital form are stablecoins which are quite a lot less complicated.

"The project will explore how financial transactions involving digital assets can be settled
on platforms initially using Ethereum and Tezos technologies. Participants will particularly
consider the implications of ‘atomic’ delivery-versus-payment settlement of tokens or
regulated securities exchanged on a blockchain - where security tokens and the cash
tokens exist on the same ledger." - Source 

The list of project members is impressive: BNP Paribas is one of the largest banks worldwide with 202,624 employees, active in 72 countries and 2,040 billion Euro's worth of assets. Crédit Agricole CIB is active in 32 countries with 7,000+ employees and client coverage dedicated to large French corporate and international clients. Caisse des Dépôts is part of the government institutions under the control of the Parliament, also known as the "investment arm" of the French State. It has 138,196 employees and 155 billion EUR worth of assets.

Second Digital Bank Currency project
In September this year, Tezos was announced to be one of the eight selected parties for further development of the CBDC experiment for Banque de France. This project is still ongoing.

------------------

New to Tezos? Read this full introduction to Tezos.

Here you can read more about the Status of the Tezos ecosystem. (Latest news, developments and growth of the adoption rate and on-chain statistics)

New to Publish0x? Create an account here and you will be able to tip articles and earn some crypto rewards yourself while doing so. 

How do you rate this article?


20

0

Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt


Publish0x posts
Publish0x posts

Posting my opinion and feedback on Publish0x here.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.