Central banks exploring blockchain use to counter cyberattacks, payment inefficiency, BIS chief says

2 November 2018 8:10pm
Central banks are experimenting with use of distributed ledger technology to help payment systems recover from cyberattacks and improve the efficiency of payments, clearing and settlements, said Agustin Carstens, head of the Bank for International Settlements.

“There’s much unheralded innovation going on,” Carstens, BIS general manager, told a Miami conference*. “Central banks are working overtime to make the existing payment infrastructure more robust, more resilient and more timely.”

He added that current versions of blockchain and other distributed ledger technology, or DLT, “are not any better than what we already have today".