Bank of England DLT

The Bank of England has released a new document that has classified Distributed Ledger Technology (DLT) as not “sufficiently mature” to function as the core of the revamped real-time gross settlement (RTGS) service that is being proposed for the UK. According to the document, “most respondents endorsed that decision.” “As stated in the Consultation Paper, the Bank has decided not to build the renewed RTGS service on Distributed Ledger Technology, in light of its findings that the technology is not yet sufficiently mature to provide the exceptionally high levels of robustness required for RTGS settlement.” Multiple countries administer their own RTGS services which