Published on November 15th, 2017 | by bitcoin0
Brazilian Central Bank All Set To Boost Blockchain R&D Efforts
The Brazilian central bank Banco Central do Brasil is ramping up its research and development (R&D) efforts on Blockchain technology.
The central bank is reportedly experimenting with “just about every Blockchain platform it can get its hands on.” As of mid-November 2017, the central bank is in the process of developing proofs-of-concept on four different platforms.
“We are a central bank, and we enjoy a lot of stability.
Increasing interest in Blockchain The PoC initiatives of Banco Central do Brasil are mainly focused on the use of Blockchain technology to back-up its existing real-time gross settlement system (RTGS) called the Brazilian Payment System and to better align its efforts with the growing interests shown by other central banks around the world to the technology.
The central bank officials want to know whether Blockchain will be the ideal backup system they have long been waiting for.