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DTCC's project, which is private and permissioned unlike many traditional blockchain networks such as Bitcoin and Ethereum, is being developed in collaboration with the likes of Barclays, BNY Mellon, Charles Schwab, Citadel Securities, Citi and Credit Suisse. Source
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While a CBDC can serve multiple purposes, Project Lithium is particularly focused on the needs of the financial services industry, such as how a CBDC could benefit the clearing and settlement of securities. For example, the project aims to demonstrate direct, bilateral settlement of cash tokens in real-time delivery-versus-payment (DVP)
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The Depository Trust & Clearing Corporation (DTCC) wants the financial sector to form a consortium alongside regulators to reduce risks associated with blockchain. In a white paper published Wednesday, the New York-based post-trade financial services firm said participants in the financial sector should work to establish a set of "agreed-upon
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The Depository Trust & Clearing Corporation (DTCC), a global financial market infrastructure giant, says traditional IT security frameworks must be updated to tackle the blockchain.An official press release on Feb. 12 took note of the expected rise in adoption of distributed ledger technology like blockchains in financial services globally. The
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