DLT could improve US payments – Fed team
Fed’s “FooWire Project” built simulated payments network using DLT platform
Creating a payments system based on distributed ledger technology (DLT) could eliminate some inefficiencies in the current US infrastructure, a Federal Reserve research team says.
The report comes from the team working on the Fed’s “FooWire Project”, set up in 2019 to explore the potential of a DLT-based payments system.
The Fed team finds that a DLT system could reduce the number of players needed in the settlement process, making payments less complex. It could also simplify payments record
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