UK Finance's RLN experimentation will focus on three primary aspects: reducing fraud in online marketplaces, improving customer transparency, and establishing a digital bond settlement.
The completion of proof of concept for the Regulated Liability Network opens doors for banks to unify their messaging and settlement elements and realize the true utility of blockchain in attaining financial inclusion.
The Regulated Liability Network (RLN) might be integrated with commercial bank deposit tokens or a wholesale central bank digital currency may offer a range of benefits, according to researchers.
MasterCard has teamed up with HSBC and Wells Fargo in piloting the RLN digital money platform, a proof-of-concept project that seeks to improve financial settlements.
