Six central banks have today received submissions for the development of the world’s first regulated blockchain-based operating system.
Central banks are studying the application of regulated blockchain technologies as they look to provide their institutions with fast, secure and transparent means of payment as well as efficiencies of administration.
In addition to the work the Bank of England is undertaking on digital currency, the Bank of France, Bank of the Netherlands, Bank of South Korea, Bank of Thailand, Bank of Canada, and the European Central Bank are all assessing the opportunities and challenges presented by CBDC (Central Bank Digital Currency) and have received submissions from L3COS, the only known blockchain platform for the regulated digitalization of economies.
The L3COS submissions are in response to requests for proposals from central banks as they push forward with their work on digital currency.
L3COS has developed unique triple-layer consensus technology and is the first blockchain platform in the world to offer individual authorities the opportunity to regulate digital economies in a verifiable and legal manner. It upholds the autonomy and sovereignty of individual authorities in a regulated and legally compliant form while being immutable, fully auditable, traceable, and transparent, making fraud, money laundering or other black-market financing impossible.
Zurab Ashvil, Founder and CEO, L3COS: “I am extremely pleased in the interest shown by central banks for L3COS. We truly believe that a regulated operating system is the only way forward for digital currency. Sovereign authorities cannot be subject to the established blockchain advocacy of anonymity, disorder, and non-compliance of the established blockchain network.
“We believe that L3COS’s unique triple-layer consensus technology is potentially transformative for digitalised economies, empowering governments for the first time to regulate digital economies while providing security and legitimacy to transactions.”
Source : PR Newswire