Bank of Italy's DLT Solution Bridges Permissioned Blockchain and Bitcoin

IconCryptoNewsTerminal Staff30 Jul, 2024

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Bank of Italy's DLT Solution Bridges Permissioned Blockchain and Bitcoin

The Bank of Italy has unveiled its permissioned consensus protocol, a key component in developing its DLT-based payment system involving multiple central banks. This protocol seamlessly interfaces with the Bitcoin network, offering exciting possibilities for interoperability and innovation. This development underscores the Bank of Italy's commitment to exploring the potential of DLT in transforming the financial landscape. By harnessing the strengths of both permissioned and permissionless blockchain networks, the bank aims to create a robust and efficient payment system that leverages the security and stability of permissioned networks while tapping into the innovation and liquidity of the Bitcoin ecosystem.

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