Central bank digital currencies (CBDC) can reduce the duration of forex transactions to under 10 seconds, according to analysis by the New York Federal Reserve.
by the New York Federal Reserve distributed ledger technology According to a test study using central bank digital currencies, normally lasting 2 days forex transactions done in less than 10 seconds can provide.
The New York Federal Reserve did not disclose the exact network over which this test run was conducted. But the work permissioned It is made through a blockchain network of the type and that the network in question rust It is known to have been developed with
Michelle Neal, one of the executives of the New York Fed, said the following about the test study:
“This study shows that distributed ledger technology can significantly reduce the processing time of 2-day transactions across the industry.”