{"id":10542,"date":"2018-08-20T05:25:25","date_gmt":"2018-08-20T05:25:25","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=10542"},"modified":"2018-08-20T05:25:25","modified_gmt":"2018-08-20T05:25:25","slug":"bank-of-england-to-open-new-blockchain-based-payment-system","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/bank-of-england-to-open-new-blockchain-based-payment-system\/","title":{"rendered":"Bank of England to open new blockchain-based payment system"},"content":{"rendered":"<p>The Bank of England is conducting a full review of its interbank payment system, including studying the possibility of transitioning to an updated version of the real-time gross settlement service (RTGS) within the next two years. RTGS is a blockchain system that facilitates settlements between financial institutions. Last year, the bank also partnered with a San Francisco-based startup to test a blockchain-based interledger system designed to synchronize payments between central banks. Although bank officials at the time considered blockchain technology as not yet ready, the upcoming withdrawal of the United Kingdom from the European Union (EU) has prompted officials to pay increased attention to what FinTech startups have to offer.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-10542 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='18 payment predictions for 2019'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/18-payment-predictions-for-2019\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/01\/18-payment-predictions-for-2019-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-12135\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12135'>\n\t\t\t\t18 payment predictions for 2019\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Biometric mobile wallets: an inevitability?'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/biometric-mobile-wallets-an-inevitability\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/02\/biometric-mobile-wallets-an-inevitability-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-14500\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14500'>\n\t\t\t\tBiometric mobile wallets: an inevitability?\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Banking in the Metaverse'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/banking-in-the-metaverse\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2023\/07\/minimal-white-style-video-player-template-design_1017-254811-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-17164\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-17164'>\n\t\t\t\tBanking in the Metaverse\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Bank of England is conducting a full review of its interbank payment system, including studying the possibility of transitioning to an updated version of the real-time gross settlement service (RTGS) within the next two years. RTGS is a blockchain system that facilitates settlements between financial institutions. Last year, the bank also partnered with a &hellip;<\/p>\n","protected":false},"author":5,"featured_media":10650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,292],"tags":[45,287,70,335],"class_list":["post-10542","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-fintech","category-united-kingdom","tag-blockchain","tag-open-banking","tag-payments","tag-startups","b_post_type-the-fintech-world"],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=10542"}],"version-history":[{"count":4,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10542\/revisions"}],"predecessor-version":[{"id":10723,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10542\/revisions\/10723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/10650"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=10542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=10542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=10542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}