Tiered access in RTGS systems: A DLT-based approach

Autor: Miguel Cárdenas, Carlos Madeira, Raúl Morales-Resendiz, Miguel Musa, Mario Sanclemente, Leon Sanz-Bunster
Jazyk: angličtina
Rok vydání: 2024
Předmět:
Zdroj: Latin American Journal of Central Banking, Vol 5, Iss 1, Pp 100116- (2024)
Druh dokumentu: article
ISSN: 2666-1438
DOI: 10.1016/j.latcb.2023.100116
Popis: Distributed ledger technologies (DLT) are increasingly considered to enhance payment systems’ and market infrastructures’ functionalities like their accessibility and interoperability. We explore DLT architecture options to enable a new tiered access in the RTGS system of Chile for new payment service providers (PSP). We find that by introducing decentralized apps (DApps) the RTGS system would become more accessible and interoperable by enabling a tiered access to new participants. Our work also suggests that central banks exploring design alternatives for retail Central Bank Digital Currencies (CBDC) could find relevant our approach as a pivot to build a far-reaching PSP network.
Databáze: Directory of Open Access Journals