Fed Completes First Test With Digital Dollar, Releases Results
In its New York subsidiary, the U.S. Federal Reserve (Fed) completed the first test of Project Cedar, the initiative testing a central bank digital currency (CBDC). The New York Innovation Center (NYIC) carried out this first phase and highlighted the potential for digital assets and blockchain technology to improve legacy payment rails. Related Reading: Twitter […]
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MDS Mexico will use blockchain technology to verify the authenticity of its rapid coronavirus test results. Medical services company MDS Mexico has launched a rapid covid-19 testing service that uses blockchain technology to verify results.According to a Oct. 17 report from local media outlet iProUP news, MDS Mexico has launched a digital platform allowing its patients to access results that are updated in real-time. Results are also physically delivered, featuring a QR code that can be scanned to verify the results and access a patient’s vaccination history on MDS Mexico’s blockchain. MDS....
Interdealer broker ICAP announced today that it has completed an internal blockchain technology trial focused on securities post-trade processes. ICAP's Post Trade Risk and Information division conducted the test last month, completing it on 26th February, the firm said, with blockchain startup Axoni providing the software infrastructure for the trial. The UK-based firm said that the test involved the use of a multi-asset messaging and matching network called Harmony, from which messages were converted, in real time, to smart contracts built on a blockchain. ICAP explained: "The....
Air France is set to trial a blockchain-based system for verifying COVID-19 test results for its passengers. With travel and tourism being one of the hardest-hit industries by the coronavirus pandemic-induced lockdowns, several stakeholders are increasingly prioritizing digital and contactless solutions.In this vein, Air France has partnered with MedAire, SGS, International SOS, and the International Chamber of Commerce to test a blockchain-based COVID-19 travel system.Beginning from March 11, Air France will begin the pilot test of the ICC AOKpass system developed by MedAire and the....
The Federal Reserve Bank of New York has published findings stemming from an experiment dubbed “Project Cedar,” a protocol that uses a wholesale digital dollar in order to improve financial transactions. Michelle Neal, head of the bank’s Markets Group remarked on Friday that the research “indicated that settlement could occur in fewer than 10 seconds on average and that horizontal scaling was possible.” Fed’s New York Branch Releases Digital Dollar Findings Associated With Project Cedar On Nov. 4, 2022, the Federal Reserve’s New York branch published a report....
The European Banking Authority (EBA) published today the results of the 2014 European Union (EU)-wide stress test of 123 banks. The health check was carried out on 123 European banks by the EBA to determine whether they could withstand another financial crisis. The results: over the three-year horizon of the exercise, 24 banks would fail the stress test - in other words, they could not withstand another financial crisis. 14 of these banks are in the Eurozone. The list of 14 includes four Italian banks, two Greek banks, two Belgian banks and two Slovenian banks. Nine Italian banks have....