Argentina’s central bank takes part in blockchain clearing pilot
Test system will use smart contracts with timestamping from the bitcoin blockchain
The Central Bank of Argentina (BCRA) will help test a new interbank clearing system that uses blockchain technology to execute smart contracts.
The pilot was announced on April 16 by Gibraltar-based firm IOV Labs, which has developed a proof of concept using its RSK blockchain network.
In 2019, a consortium called the “financial innovation roundtable”, which included the BCRA, began designing the system. IOV Labs was chosen to provide the underlying technology for the platform.
The system
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