Dutch Central Bank Presents Results of Cryptocurrency Experiments
A senior official for the central bank of The Netherlands has presented the results of two cryptocurrency tests designed to explore how bitcoin’s blockchain might be adopted by national banking institutions. The experiments by De Nederlandsche Bank (DNB) sought to simulate bitcoin both in its early days and in the year 2140, when the final bitcoins are expected to be mined. The bank presented the results at the third-annual Dutch Blockchain Conference, held just outside Amsterdam earlier this month. The tests, conducted in 2015 but not reported until earlier this year, utilized an....
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Most of the details regarding this project remain shrouded for the time being, although we do know the Dutch central bank has been exploring blockchain technology for quite some time now. Although distributed ledgers hold a lot of potential to increase the current day-to-day operations, there is something alluring about the aspect of issuing one’s own digital currency. More and more countries around the world are starting the concept of digital currency seriously these days. The Dutch central bank is joining this growing list, as they seem to have concrete plans to issue a new digital....