Price Alert Ripple , Bank of England successfully tests new payment method (FT)
Expect much volume and price development in Ripple as Bank of England launch Proof of Concept
detailing fintech accelerator program.
The Bank of England has carried out a successful test of an “interledger” programme developed by Ripple, the California-based blockchain specialist, to synchronise a payment between two central banks’ systems.
The test did not involve real money, nor any of the BoE’s core systems, or even use blockchain technology itself. However, the proof of concept announced on Monday evening marks an important moment for the blockchain community.
“This is really about connectivity between central bank systems rather than replacing the central bank systems with the blockchain,” Daniel Aranda, head of Europe at Ripple, told the Financial Times. “It allows money to move between countries near-instantaneously and without settlement risk.”
Source:Financial times
Author:Martin Arnold
- I Have a feeling Ripple will be making some waves soon enough. Pun intended. Thanks for the knowledge ^_^