Bank for International Settlements: The Tokenization of Currency and Assets Holds Great Potential

ChainCatcher news, the Bank for International Settlements (BIS) pointed out in the special chapter of its 2023 Annual Economic Report that the tokenization of currencies and assets has enormous potential, but so far, these initiatives have been conducted in "silos," unable to access central bank funding and the trust foundation it provides.

A new type of financial market infrastructure, the "Unified Ledger," can harness the full benefits of tokenization by combining central bank money, tokenized deposits, and tokenized assets on a programmable platform. Multiple ledgers may coexist and connect with each other through application programming interfaces to ensure interoperability and promote financial inclusion and a fair competitive environment. (Source link)