Germany creates bridge between blockchain and euro
A partnership between the Bundesbank and Deutsche Börse will allow the exchange of money from the central bank
The financial authorities of Germany have been working on the development of a technology capable of allowing investors the acquisition and sale, within the blockchain system, in exchange for money from the Central Bank.
This new tool thus becomes the first step to unite the traditional financial system and the one that is being created by cryptocurrencies.
Public and private institutions around the world have launched pilot projects for the use of the technology used by bitcoin and other cryptocurrencies, so that transactions with official money can be settled.
For its part, Bundesbank has created an association with Deutsche Börse to carry out the aforementioned project, and that uses blockchain technology as an intermediary.
“Participants have shown that it is possible to establish a technological bridge between blockchain technology and conventional payment systems to settle securities in central bank money without the need to create a Central Bank Digital Currency,” the Bundesbank said.
K. Tovar
Source: Cincodías
