Blockchain around the world

Blockchain around the world

First Published: e-Forex Magazine 82 / Blockchain and CryptoCurrencies / September 2018

South Africa. Speaking at the launch of the report on Project Khokha, the South African Reserve Bank (SARB)’s trial of interbank wholesale settlement using DLT, Francois Groepe, deputy governor, SARB, said: “As regulators, we are keenly aware that the days of playing catch-up, with often long lags, are no longer appropriate as such an approach may allow for systemic risk to build and for market conduct failures to go unchecked. Project Khokha is therefore significant as it has demonstrated that regulatory institutions are indeed capable of responding to the rapidly changing environment with agility, flexibility and speed.” From its inception, Project Khokha took three months to complete. The trial network simulated typical South African RTGS requirements, with speed and security-system testing built in. Through the trial, SARB maintained regulatory oversight while confidentiality was maintained. The trial achieved sub-two second processing across geographically distributed nodes...continued

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