Bank of England: Scaling Real-Time Gross Settlement

[xrp noob]

https://ripple.com/insights/bank-england-future-rtgs/ In a recent consultation paper titled, “A new RTGS service for the United Kingdom: safeguarding stability, enabling innovation,” the Bank of England sought to answer crucial questions about the bank’s real-time gross settlement (RTGS) service, asking for input from experts like Ripple. On an average day, RTGS settles around £500 billion between banks. As a central bank with a key role in monetary policy and a mainstream platform for payments, the Bank of England is keenly interested in the future, and how current innovations can help them evolve to meet the changing needs across the global settlement landscape.

 

Ripple ‏@Ripple  8m8 minutes ago

New Bank of England study on RTGS: new tech will reshape the #payments landscape.

 

Edited October 18, 2016 by xrp noob

[tommytrain]

There is a slide presentation dated 13 October 2016 at the bottom of the RTGS Strategy Review website entitled, "RTGS Review: Industry Briefing Session" which outlines the following:

• Objectives of RTGS renewal
• What is being retained from current RTGS?
• What is being enhanced in next generation RTGS?
• How will the next generation RTGS be delivered?

Cost Recovery, Technology (see slide below) & Future Delivery of CHAPS were identified as to how the next-gen RTGS will be delivered. Note that "Distributed Ledger" is the primary topic listed on the Technology slide. Unfortunately, the Future Delivery of CHAPS slide is apparently missing from the presentation posted online.

"Maturity" is that code for we're too scared to be the first ones in the deep end?


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[thinlyspread]

I think it's more like there needs to be higher volume flying through ILP/RCL to make it useful for the big money transfers. 

[thinlyspread]

http://www.coindesk.com/bank-of-england-dlt-reshape-banking/

Quote

Distributed ledger tech could "reshape" banking, Bank of England chief Mark Carney said today.

The G-20 international organization is hosting a conference on finance and digitalization this week, with blockchain and distributed ledgers forming one of the event’s central themes. The event is being hosted in Germany, in the city of Wiesbaden.