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SARB pairs with ConsenSys to probe clearing and settlement
The SARB is developing a proof of concept to investigate interbank clearing and settlement using distributed ledger technologies.
14 February 2018
The South African Reserve Bank announced on Tuesday it would be launching ‘Project Khokha’ (‘pay’ in isiZulu), an experiment with distributed ledger technologies. The aim is to reach a proof of concept (POC) to replicate interbank clearing and settlement.
The POC will involve the processing of wholesale payments using Quorum, an Ethereum enterprise distributed ledger protocol that supports privacy in transactions and contracts.
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