The Central Bank of South Africa is considering JPMorgan Blockchain Tech
The Central Bank of South Africa is considering JPMorgan Blockchain Tech

South Africa’s bank has begun a program that will test the JPMorgan’s trial and breakdown and negotiation.

According to a statement on the ruling on February 13, the South African Reserve Bank (SARB) revealed that it had established a research course, among other things, a project called Khokha to investigate what people are doing. tech.

SARB further stated that the agreement would link to ConsenSys, the startup of technological technology, and develop PoC. This process will involve relocation of a full-time payment system, co-operative blockchain co-created by JPMorgan and EtLab startup.

SARB states:

“The purpose of this project is to obtain the relevant understanding of DLT through the development of the contract (PoC) and its partnership with the company. The purpose of the PoC is to restore interconnection and maintenance to the DLT that will allow SARB and the company discuss the benefits and dangers of DLT. ”

The front door is the latest attempt by South Africa’s financial institutions to monitor the speed of the blockchain technology. As reported in February last year, many South African banks, including SARB, have already begun a series of comprehensive analyzes.

That said SARB emphasized that the new effort does not mean that it is changing people’s DLT and national debt compensation. Instead, PoC is an experiment to understand the effect of using DLT to collaborate.

At the other level, the state-owned firm said it would also review the law enforcement system around cryptocurrencies that would focus on financial laundering problems, tax laws, mitigation and financial reforms. .

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