WEF constantly release interesting articles and essays regarding new technologies and their application, these are the most relevant approach to “Blockchain” in Banks:

Retail central bank digital currency (CBDC) 

Central Banks Digital Currency (CBDC) allows to banks to implement or replace physical cash in a peer-to-peer and decentralized manner.  Different central banks such as Eastern Caribbean, Sweden, the Bahamas and Cambodia are experimenting with this in the commercial market, instead South Africa, Canada, Japan, Thailand, Saudi Arabia, Singapore and Cambodia experimenting with this in the in the in wholesale interbank market. 

The same philosophy could be applied forecast money supply chain: use the DLT in order to track and manage the delivery and movement of cash from production facilities to the central bank and commercial bank branches

Payment system resiliency and contingency 

The use of DLT to provide safety and continuity from threats, network failure, natural disaster, cybercrime in a primary or backup domestic interbank payment and settlement system.

Bond issuance and lifecycle management 

Reduce costs and increase efficiency using DLT in the bond auction. 

This concept could be applied by sovereign states, international organizations or government agencies. 

In August 2018 The World Bank launched the first blockchain-based bond, called the “bond-i”, 

Know your customer (KYC) and anti-money-laundering (AML) 

Using DLT in combination with a digital national identity platform  could track relevant customer payment and identity information to streamline processes. 

Central banks exploring it include the Hong Kong Monetary Authority.

Information exchange and data-sharing 

DLT  systems for information and data sharing between institutions. 

Customer SEPA Creditor Identifier (SCI) provisioning 

A blockchain-based decentralized sharing repository for Single Euro Payment Area (SEPA) credit identifiers, managed by the central bank and commercial banks in the SEPA debiting scheme, could offer a faster, more streamlined, decentralized system for identity provisioning and sharing. 

In conclusion it is right to say that the blockchains treated and object of interest to banks are not decentralized, but rather they are DLTs, therefore they are databases distributed on dedicated hardware and so completely centralized.  


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