By Ana Alexandre Reserve Bank of Zimbabwe to Study Blockchain Implementation17092 Total views 287 Total sharesNewsThe Reserve Bank of Zimbabwe (RBZ) has initiated studies of blockchain technology with a view to subsequently embrace the technology and integrate it into the bank's business processes, local news outlet NewsDay reported July 5. Speaking at the Alpha Media Holdings' Banks and Banking breakfast meeting in Harare yesterday, RBZ governor John Mangudya reportedly said that the bank is looking to embrace the technology. He stated that central banks in a number of countries, including China, the U.S., U.K., and South Africa have been considering blockchain deployment for their own activities. So while we want to embrace things, we need to know where they are coming from. In November of last year, RBZ announced that the use of Bitcoin (BTC) was considered illegal in the country.
Bank of England to Rebuild Settlement System to Interface with Blockchain Platforms
By Ana Alexandre Bank of England to Rebuild Settlement System to Interface with Blockchain Platforms39606 Total views 443 Total sharesNewsThe Bank of England is planning to rebuild its Real Time Gross Settlement (RTGS) system so that it can interface with private business and platforms using distributed ledger technology (DLT), the bank's Governor Mark Carney announced in a speech June 21. Speaking at Mansion House in London, Carney said that the bank will conduct an "ambitious rebuild" of its RTGS system, which is, according to him, the backbone of every payment in the U.K. RTGS is a system generally used to transfer large volumes of funds between banks. The bank is looking to reorganize the existing RTGS so that private payment platforms could plug in directly to the bank's system. The central authority would have the power to issue and retire new units of assets and grant access permissions to all participants. No party other than the regulator would be able to infer details about transactions they are not party to.