Fed testing FooWire blockchain with Hyperledger
Gesara.news » News » Fed testing FooWire blockchain with HyperledgerNews Date: August 15, 2020
Federal Reserve detailed FooWire distributed ledger experiment designed to test whether the technology is suited for payments application.
The team built the system using Hyperledger Fabric, a popular DLT platform, because it generally met the team's design requirements of a closed network, mature technology, and enterprise readiness. The experiment highlighted the potential of DLT for certain payment uses, the quick speed with which a system could be implemented, the potential simplicity of smart contracts, and the range of functionality offered by such platforms. It further highlighted the need for more experimentation to better understand the possibilities for wide-scale adoption and use of any DLT platform for payments.
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