Dutch Bank “Blockchain technology effect, yet… ”

The Dutch Bank DNB continued to develop and test blockchain technology in connection with the adoption of blockchain technology, but expressed the view that the results so far are not positive.

According to reports, the adoption of new technologies such as blockchain and artificial intelligence is an important policy in DNB’s strategy (DNB Payments Strategy 2018-2021). However, he added that there are a number of problems in the evaluation conducted over three years for the blockchain and distributed ledger technology DLT. They expressed the view that they are still not positive, citing inefficiency due to lack of capacity and high energy consumption, and lack of solid evidence that payment has been completed.

However, the official urged the central bank to continue investing in development to ensure that these new technologies can be used safely. The DLT app shows high potential in cross-border payments. The Dutch bank said it is currently developing and investigating four DLT-based prototypes.

The official said that cryptocurrency is not real money, but there is no plan to ban it. Related information can be found here .