It is unclear to what extent the current test run may ultimately have an effect on possible faster measures for regulation by the German government. Nevertheless, the attempts of the Bundesbank and Deutsche Börse are an important signal.
two prototypes have successfully completed test run
Deutsche Börse and Bundesbank have announced at the end of the week that they may have finally completed an experiment with two new prototypes of blockchain technology. Together, the bank and the owner of the Frankfurt Stock Exchange wanted to find out what the blockchain potential was in the area of securities transactions. Finally, many experts in the past have stressed how useful ethereum and other crypto currencies could be in this environment. In any case, the result of the tests with both models gives hope in any case. Those responsible regard the potential of the blockchain as confirmed.
Not only orders, also payments were processed as a test
In addition to the pure transaction processing in the securities area, the applicability of the blockchain for payments including interest settlements and maturity reimbursements in the area of bonds was also put to the test in the test. Both here and there, the experiment presented itself as a success, as the press release of the Bundesbank and Deutsche Börse states. The new blockchain developments were based on the well-known Digital Asset Platform on the one hand and the Hyperledger Fabric format on the other. We’ll see: Something is slowly happening so that the blockchain systems from Bitcoin and other currencies can finally assert themselves in Germany as well. Perhaps this will soon lead to the development of new jobs in the blockchain area, as in the USA
Systems must comply with legal requirements
The current research project in connection with the “Blockbaster” project (stands for “blockchain based settlement technology research”) of the two German institutions could therefore point the way ahead and in future ensure that the infrastructure on the German financial market is gradually opened up to this part of the digital world. It is further stated that work is already underway on optimising the prototypes in order to soon exceed the results of the first performance test. The Bundesbank and Deutsche Börse rely on a closed architecture, which is only open to users with the appropriate license, in order to comply with applicable financial market guidelines, according to the statement by the Executive Board of the Deutsche Bundesbank.