Group items matching

in title, tags, annotations or url

The Central Bank of Nigeria (CBN) reportedly has sent a presentation to Nigerian banks about the e-Naira central bank digital currency (CBDC) project. The CBDC, which will not be renumerated, will run on a Hyperledger Fabric DLT platform, and users will access it with the CBN's three-tier Speed Wallet. The first tier, which does not require users to have a bank account, will require users to register their phone number validated as a National Identity Number (NIN) and has a daily send/receive limit of N50,000 (about $120) and a maximum balance of N300,000 ($730). Tier Two wallet users, who must have a bank account and Bank Verification Number (BVN), will be able to send and receive N200,000 ($485) and hold up to N500,000 ($1,200). The third Tier allows daily transactions up to N1,000,000 ($2,430) with holdings limited to N5,000,000 ($12,150).

Yesterday I reported that the Central Bank of Iran (CBI) was reported to be launching a central bank digital currency (#CBDC) pilot today (September 22, 2022). The news isn't coming directly from the CBI, but from the Iran Chamber of Commerce. Now Al Jazeera is reporting that the digital rial will run on a platform called Borna, which was developed using Hyperledger Fabric, an open-source permissioned distributed ledger technology (DLT) blockchain platform

As blockchain adoption increases globally, scaling solutions will be necessary to keep pace with demand while layer-1 blockchains come up to speed. There are blockchain scaling solutions for every type of business. Permissioned blockchains like Hyperledger Fabric and Consensys Qorum can be ideal for enterprises; meanwhile, for smaller projects, layer-2 solutions are sufficient to perform the required tasks. For example, instead of developing dApps for a payment application on the Ethereum main chain, businesses can utilize the likes of SKALE, Polygon PoS, or Loom Network's side chain ecosystem to effortlessly process transactions. Meanwhile, if you need instant and free peer-to-peer Ethereum transactions, state channels like Perun or Connext could be your solution. If you want to use your digital assets on a different chain to conduct business, look for a platform that utilizes cross-chain bridges and see what its ecosystem offers.

The Reserve Bank of India Innovation Hub (RBIH) conducted a successful interoperable distributed ledger technology (DLT) platform proof-of-concept exercise with 11 banks, DLT fabric partners, DLT application layer partners, and fintech startups. Inland Letter of Credit was chosen as the use case, because its end-to-end flows is paper intensive, time consuming, requires human intervention at multiple level, and prone to fraud. DLT allowed stakeholders to digitally share accurate and reliable trade information in real-time. Smart contracts supported by DLT, allowed for automated execution of payments on meeting pre-set conditions of the contract.

The Eastern Caribbean Central Bank (ECCB) DCash has been offline since January 14, and it could take several more days to fully restore service, bank officials told Bloomberg News. The "interruption" didn't compromise any data but it stopped all transactions. The problem was related to an expiring certificate on the version of the Hyperledger Fabric that hosts the DCash ledger.

The Eastern Caribbean Central Bank (ECCB) has revealed that an expired certificate caused its pilot central bank digital currency (CBDC), DCash, to go offline from January 14. Karina Johnson, the ECCB project manager for the DCash pilot, said that "the version of Hyperledger Fabric (HLF)", the network that hosts DCash's distributed ledger, "had a certificate expire". To install an up-to-date certificate, the currency's operators are undertaking "a version change of HLF and associated systems.