Dutch central bank is working on DNBCoin
The Dutch central bank (De Nederlandsche Bank) has committed to developing an international blockchain prototype called “DNBCoin”. In their latest annual report they state that blockchain technology could improve its business.
The project is described as a ‘prototype coin based on blockchain technology’. There are no details on the project’s release or objectives however it looks like it’s a priority for in-house developers this year.
The Dutch central bank is not the first bank that investigates the use of blockchain technology. A growing number of central banks from around the world, particularly the Bank of England, have suggested that blockchain technology could be applied to create more centralized digital currencies.
Read more: How Banks Learned To Stop Worrying And Love The Blockchain, Bitcoin’s Underlying Tech