In a report titled “Cryptocurrencies and blockchain”, voiced recently by the world Bank, countries in Europe and Central Asia are encouraged to introduce blockchain technology to improve the quality of services.
“Economic growth in the region of Europe and Central Asia has reached its maximum (growth of 2.7% in 2017 and projected 2.3% in 2018). The time has come for the countries of the region to take advantage of new digital technologies to innovate and improve the quality of their services,” the report says.
The document notes that the blockchain makes it possible to perform transactions directly and exchange information flows between entities without requiring the participation of a trusted intermediary. According to the Bank, bitcoin should become the number one safe haven asset, since it occupies the same position among cryptocurrencies as the dollar.
“He was the first to create the whole world of cryptocurrencies, and his technical imperfections are unable to neutralize this initial advantage and prevent him as little as prevented the dollar low security bills until 2014,” – said in the report.
Meanwhile, the Bank of Canada reported on the results of the blockchain project Jasper. The latest results of the flagship experiment in the domain of DLT, which began in June 2017, show that distributed ledgers are an effective solution for the automation of securities settlement in real time.