Bilateral Saudi, UAE Digital Currency Experiment Shows Benefits of Distributed Ledgers, Central Banks Say
A joint Saudi and UAE CBDC pilot found that a distributed payment system offers “significant improvement over centralized payment systems.”
The project will explore the capabilities of a DLT-based central bank digital currency in regional payments.
The bill was introduced to bring blockchain tech on par with traditional contracts and recordkeeping.
“We are moving ... three trillion dollars of securities onto this system and that is larger than the whole global crypto world," said Stevens.
Hedera Hashgraph's CEO says integrating novel technologies with existing enterprise systems will drive adoption in the years ahead.
A Swiss experiment on how central bank money can be linked to markets built on distributed ledger technology (DLT) yielded positive results.