Miles Bron@TheMilesBron
$QNT
The fun is about to begin ladies and gentlemen!
Are you ready?
Bank of Korea is releasing a CBDC pilot in 2024 involving 100,000 citizens.
The CBDC pilot consists of a collaboration of the BIS and Bank of Korea.
They seem to be testing a ‘unified ledger’ that will connect the entire future global monetary system and which will become the backbone of the internet of trust.
Many DLT researchers are lead to believe Quant’s Overledger is the technology behind the ‘unified ledger’ due to SATP(a secure asset transfer protocol) being referenced in the BOK CBDC paper and the same attributes/architecture of Overledger being used!
Quant’s vision from the start has always been about redesigning the current financial system via a network of networks.
“A unified ledger would be a network of networks that would allow various components of the financial system to work seamlessly together. In particular, it would have the potential to combine the monetary system (that is, central bank money and commercial bank money) with other assets, making possible the instantaneous payment, clearing and settlement of any transaction.” - BIS
There is a strong focus of connecting multiple ledgers to this unified ledger for a complete system
Each ledger specific to its own use case (Central Banks, Payment Providers, etc)
As this allows them to "interconnect & coexist through APIs to ensure interoperability"
Seems like Project Rosalind's sample of API success was more than just a pass!
Its now can be seen being used in 2 other CBDC models since
Project Sela
Korean wCBDC
Now
I will say it again!
The Overledger ERA has begun!
Are you ready?
