Fed Distributed Ledger Tech Report Single Out Interledger Protocol
In the latest report from the Federal Reserve Board on “distributed ledger technology in payments, clearing, and settlement,” the future use of distributed financial technology looks more certain than ever. The exhaustive document details potential and known use cases, the path to adoption for new solutions and legal issues and governance among a whole host of subjects.
Three key takeaways from this report:
- Distributed ledger technology (DLT) represents an opportunity to deal with existing frictions in payments, clearing, and settlement.
- As DLT matures, compliance and governance requirements must evolve along with the technology to extend the existing framework.
- An open interoperability standard like the Interledger Protocol (ILP) could spur further innovation and adoption of DLT-based systems for cross-border payments.
Discover the full report here.