The Committee on Payments and Market Infrastructure (CPMI) has published a report on distributed ledger technology (DLT) in payment, clearing and settlement.
The report aims to provide an analytical framework for central banks and other authorities to review and analyse DLT arrangements with the objective of helping market participants understand the uses of DLT and, in doing so, identify both the opportunities and challenges associated with this technology.
The report notes that developments to date suggest that DLT bears promise but that there is still a long way to go before that promise may be fully realised. In particular, much work is needed to ensure that the legal underpinnings of DLT arrangements are sound, governance structures are robust, technology solutions meet industry needs, and that appropriate data controls are in place and satisfy regulatory requirements.
The CPMI hopes that the report will contribute to the dialogue on how the industry can use innovation to support robust, efficient and safe payment, clearing and settlement systems.
View CPMI report on DLT in payment, clearing and settlement, 27 February 2017