Germany’s Central Bank Is Working On A Blockchain Project

Germany’s central bank is working on a blockchain project. According to a public notice published in the Supplement to the Official Journal of the European Union, the Singaporean non-profit foundation Ocean Protocol was contracted to create a decentralised network for the Bundesbank of Germany.

The central bank said that the Ocean Protocol, a relatively limited-renowned project, was chosen primarily because it was the only possible contractor for the job, citing a “lack of comparable competitors.”

Bundesbank detailed in its public notice that the main purpose of the project is to set up a “decentralized network approach, which allows participants a permanent, symmetrical data access for the realization of real-time updates of statistics while preserving data sovereignty.”

The institution expects to work hand in hand with the Ocean protocol to build a platform for securely publishing, transferring, and consuming public and private data.

[image: LinkedIn]

bitcoin
Bitcoin (BTC) $ 68,044.23 1.55%
ethereum
Ethereum (ETH) $ 2,411.60 2.57%
tether
Tether (USDT) $ 0.999969 0.11%
bnb
BNB (BNB) $ 554.71 1.37%
solana
Solana (SOL) $ 158.90 2.96%
usd-coin
USDC (USDC) $ 1.00 0.08%
xrp
XRP (XRP) $ 0.505546 0.23%
dogecoin
Dogecoin (DOGE) $ 0.162637 6.34%
staked-ether
Lido Staked Ether (STETH) $ 2,412.29 2.55%
tron
TRON (TRX) $ 0.162711 1.44%
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)
   
$0.0000  $0.0000  (0.00%)