I don't understand how they go around the confidentiality. If you are a trader at big bank A, the last thing you want is traders at big bank B and C to know everything you have in your book.
What I didn't understand from the article was the point about membership. If the contributing banks are the only ones using it, why is it giving information about what _I_ could do with one of these USCs - apparently nothing because I won't be able to join the chain
Wouldn’t it just amplify it? Right now, central banks just set up swap facilities between each other. It’s akin to opening a bank account with one another. Crediting, debuting and undoing anything nefarious is cheap and easy.
Banks want to use Blockchain as a more reliable alternative to SWIFT it won’t be doing actual account settlements which in your case you mentioned corresponding banking.
That said many of the more progressive institutions stopped calling it Blockchain a while ago they all are talking about distributed ledgers, hyper ledger and the likes are being either used or piloted by many institutions.
The ones that do use Blockchain often mean today actual crypto currency or a settlemen token a good example of a “real world” implementation would be Royal Mint Gold which is a crypto token offered by the Royal Mint which is pegged to gold.
> Banks want to use Blockchain as a more reliable alternative to SWIFT it won’t be doing actual account settlements which in your case you mentioned corresponding banking.
> That said many of the more progressive institutions stopped calling it Blockchain a while ago they all are talking about distributed ledgers, hyper ledger and the likes are being either used or piloted by many institutions.