Tag: banks

Spanish banks lead development of blockchain-based digital ID model

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Spanish banks lead development of blockchain-based digital ID model

Ten leading Spanish companies – including Santander, LiberBank, Bankia, Caixa Bank, and BME – are planning to roll out a self-managed digital identity model using blockchain technology.

Dave Birch: “if banks don’t do something about digital identity, Apple or Google or Facebook will”


Dave Birch, Director of Innovation & Global Ambassador at Consult Hyperion sits down with David Penn, Research Analyst with Finovate to talk digital identities, moving beyond reducing transaction costs and going back to our roots and establishing stronger communities.
Find out more about FinovateEurope: https://informaconnect.com/finovateeurope/

Breitling blockchain-based digital certificate


Breitling brings you a private and unique digital passport securely linked to your watch through blockchain technology, providing you traceability, transparency and tradability.

#breitling #blockchain

Kim Iversen: Digital IDs To Be Rolled Out By Big Banks For WEF’s GREAT RESET Agenda


Kim Iversen explains the World Economic Forum’s efforts to introduce a digital ID.

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Digital IDs will Change Voting Systems Forever – IoV


Digital IDs will Change Voting Systems Forever – IoV

https://www.finextra.com/newsarticle/36888/spanish-banks-lead-development-of-blockchain-based-digital-id-model

Channelurces on digital identity, trustics and Secure Customer AuTen leading Spanish companies – including Santander, LiberBank, Bankia, Caixa Bank, and BME – are planning to roll out a self-managed digital identity model using blockchain technology.The project, known as Dalion, has completed the concept test, leading to a second phase round of development and testing with the aim of rolling out the product in a live production environment in May 2021.

Self-managed identity enables people to have their personal data in a single digital identity, backed by the companies involved and stored on their own mobile device. Users may decide who to share the data with at any time with no need to fill in tedious forms. For example, they may use their data validated by other organisations to hire a car, take out insurance or arrange a loan in just a few clicks.

The project is based on the Alastria digital identity model, which uses Ethereum and Quorum blockcain infrastructure to handle the transfer of user IDs between the participating organisations. Alastria is a multi-sector Spanish consortium, composed of 600 partners including large companies, SMEs, public authorities and academic institutions.

BIS and four central banks hail pilot trials of CBDCs in cross-border FX transactions

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BIS and four central banks hail pilot trials of CBDCs in cross-border FX transactions

The Bank for International Settlements (BIS) and four central banks have completed a successful pilot of the use of central bank digital currencies (CBDCs) by commercial banks for foreign exchange transactions across borders, as part of Project mBridge.

Project Helvetia: Delivery versus payment with w-CBDC (PoC1)


Project Helvetia, a joint proof-of-concept experiment between the Bank for International Settlements’ Innovation Hub Swiss Centre, the Swiss National Bank and the financial infrastructure operator SIX Group, successfully shows the feasibility of integrating tokenised digital assets and central bank money. https://www.bis.org/publ/othp35.htm

Exploring Cross-Border Use Cases of CBDCs


105 countries are exploring a potential CBDC, according to The Atlantic Council. CoinDesk Executive Director of Global Content Emily Parker discusses the latest developments on cross-border use cases of central bank digital currencies (CBDCs).

Improving cross-border payments – should central banks leave it to the private sector?


The session sheds light on efforts to improve cross-border payments and the role of the public and the private sector in this process.

The session was part of the BIS Innovation Summit 2022: https://www.bis.org/events/bis_innovation_summit_2022/overview.htm

Speakers: Thomas Jordan (Chairman of the Governing Board, Swiss National Bank), Sir Jon Cunliffe (Deputy Governor, Bank of England), Tony McLaughlin (Managing Director, CITI) and Catherine Gu (Head of CBDC, Digital Currency, Visa).

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Project Jura – Cross-border settlement using wholesale CBDC


Jura explores the direct transfer of euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms. https://www.bis.org/about/bisih/topics/cbdc/jura.htm

Central banks develop prototypes for cross-border CBDC interoperability

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Central banks develop prototypes for cross-border CBDC interoperability

The Bank for International Settlements and the central banks of Australia, Malaysia, Singapore and South Africa have developed two prototypes for a shared platform that could enable international settlements using digital currencies issued by multiple central banks.

China’s CBDC Gets a New Trick! Interoperability: It can now exchange with other CBDCs.


The “Multiple CBDC Bridge” is the final piece of the China CBDC puzzle and brings us one-step closer to free and immediate CBDC transfer.

Hong Kong Monetary Authority, PBOC, Bank of Thailand and Bank of UAE and the BIS Innovation Team building transfer bridge for CBDCs called m-CBDC.

m-CBDC connects China’s CBDC with trial CBDCs from UAE and Thailand. Technically tricky because CBDCs all use custom tech.

Let’s break this down as to why this is important:

1) Interoperability makes for free and immediate cash transfer. The utopian dream realized?

2) UAE and Thailand are both BRI countries and already trade in RMB

3) Network is DLT so blockchain fans rejoice

4) Signals the end of bank cash transfer revenue

5) Is Hong Kong the new international transfer center for China’s CBDC?

6) RMB internationalization continues. No SWIFT no $US in use.

7) Will m-CBDC be open to all CBDCs? Its likely, also likely there will be many different transfer centers. US center vs. China center.

So will the DLT network run on China’s new Blockchain Service Network? If so China just built critical financial infrastructure.

International transfer of China’s CBDC is taking shape.

See the plan?

Thanks for reading, please like, comment and connect with me for more on China’s #fintech #innovation and #technology

Options for access to and interoperability of CBDCs for cross-border payments


Central banks must make critical choices on the access of non-residents and foreign financial institutions to central bank digital currencies (CBDCs), as well as ensuring multinational interoperability, to fully harness the potential for CBDCs to enhance cross-border payments. This is the main conclusion of a joint report released by the BIS Committee on Payments and Market Infrastructures, The BIS Innovation Hub, the IMF and the World Bank. https://www.bis.org/publ/othp52.htm

Central bank digital currencies, digital payments, and the future of money


Speakers discuss plans and challenges for the digital payments era and explore what the future might bring for money and payments from the perspectives of the private and public sectors.

This session is part of the BIS Innovation Summit 2022: https://www.bis.org/events/bis_innovation_summit_2022/overview.htm

Speakers: Stefan Ingves (Governor, Sveriges Riksbank), Patrick Njoroge (Governor, Central Bank of Kenya), Gary Gorton (Professor, Yale University) and Jose Antonio Alvarez (Chief Executive Officer, Santander Group).

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Project mCBDC Bridge


Bénédicte Nolens, Head of BIS Innovation Hub Centre Hong Kong, discusses Project mCBDC Bridge and its aim to leverage distributed ledger technology to alleviate the current pain points in making cross-border fund transfers. https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm