US Edition10 US Banks Begin Testing ‘Digital Currency’ to Replace Cash
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10 US Banks Begin Testing ‘Digital Currency’ to Replace Cash
Ten banks in the United States are working with the New York Innovation Center (NYIC), part of the Federal Reserve, to test the regulated liability network (RLN), a digital currency platform that will replace cash. RLN would use distributed ledger technology to improve financial settlements and would include commercials and central banks, the firm said earlier this month. The press release said: “The 12-week PoC [proof of concept] will test a ve…
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