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 <p class="is-style-lead">The Bank of England (BoE) has released a new <a rel="noopener noreferrer nofollow" title="paper" href="https://thebittimes.com/tag/paper.html">paper</a> that explores the use of Ripple’s Interledger Protocol for synchronized settlement of payments.</p> 
 <p>The new step taken by the Bank of England shows the increasing interest of central banks in blockchain technology. The <a rel="noopener noreferrer nofollow" title="paper" href="https://thebittimes.com/tag/paper.html">paper</a> is titled “Ripple: Exploring the Synchronized Settlement of Payments using the Interledger Protocol.”</p> 
 <p>The BOE believes that Ripple protocol could significantly impact the cross-border payments industry by allowing synchronized settlement across multiple ledgers. The protocol could connect different payment networks, like financial institutions and digital assets.</p> 
 <p>The main purpose of the protocol is to create a fast and efficient payment ecosystem. The <a rel="noopener noreferrer nofollow" title="paper" href="https://thebittimes.com/tag/paper.html">paper</a> shows the results of implementing Ripple’s protocol by the Bank of England with the RTGS systems.</p> 
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 <p>The integration allows transactions to take place in a faster and more efficient way than traditional payment methods.</p> 
 <p>Earlier this year, the Bank of England and the Treasury launched a public consultation to understand how CBDC, in this case, digital pound, could be used in British society.</p> 
 <p>CBDC is moving fast among different finance fields. One clear example is the case of the digital euro, which the European Union regulators are exploring.</p> 
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Bank of England releases new paper on Ripple use cases

TheBitTimes

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