The Role of Blockchain In Banking – Official Monetary and Financial Institutions Forum

The Official Monetary and Financial Institutions Forum put out a PDF in May 2020, titled The Role of Blockchain In Banking.  The Official Monetary and Financial Institutions Forum, is an independent forum for central banking, economic policy and public investment.

In this consultation paper, OMFIF and CCBU investigate the effects of blockchain and distributed ledger technology on financial institutions’ business models. The study focuses on the motivations underpinning financial institutions’ decision to adopt blockchain, their participation in consortia – groups of companies collaborating to develop common objectives and standards for blockchain and DLT – and the critical practices and lessons they have learned so far. It is based on in-depth interviews with representatives of major global banks and financial technology companies. The people we spoke to are innovation officers and managers responsible for deploying practical blockchain and DLT use cases in areas like cross-border payments, trade finance and foreign exchange settlement. OMFIF and CCBU engaged with experts representing other diverse perspectives and sectors, including fintech and technology providers from the blockchain and DLT industry. Analysis of financial technology regulation and public policy papers complements our research.

This document outlines Ripple and XRP several times:

Thanks to James Rule XRP for this Information – amazing find!

#xrpcommunity @digitalassetbuy @Kevin_Cage_ @BakkupBradley @XrpMr
OMFIF
The role of blockchain in banking
Future prospects for cross-border payments PDFhttps://t.co/TOpSm7sMzy pic.twitter.com/2acS6pqOer

— 𝐉𝐚𝐦𝐞𝐬𝐑𝐮𝐥𝐞𝐗𝐑𝐏 (@RuleXRP) June 11, 2020