Today the Bank of Canada, Canadian stock exchange TMX, Payments Canada and Accenture announced that clearing and settlement of securities on-ledger is viable. The proof of concept (PoC) tokenized both cash and stocks to complete the equity settlement instantly.
Project Jasper has been in the works since early 2016 and is based on R3’s Corda technology, so strictly speaking it uses Distributed Ledger Technology (DLT) not blockchain.
“This proof of concept shows that it is possible to deliver payments in a way that has never been done before – by directly swapping cash from buyers to sellers, resulting in instant settlements,” said Gerry Gaetz, President and CEO of Payments Canada.
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