Central banks testing smart contract toolkit under BIS Project Pine

Central banks are experimenting with smart contracts to implement monetary policy in tokenized environments, signaling a growing interest in integrating blockchain technology into traditional finance (TradFi). According to a joint research study by the Federal Reserve Bank of New York’s Innovation Center and the Bank for International Settlements (BIS) Innovation Hub Swiss Centre, smart contracts could offer central banks a flexible and rapid-response toolkit in a tokenized financial system. The study, dubbed Project Pine, tested a prototype “generic customizable monetary policy tokenized toolkit” for further research by central banks, according to a BIS report published May 15. “The smart contract toolkit was fast and flexible,” the BIS wrote source: https://cointelegraph.com/news/central-banks-smart-contract-tokenization-pilot-bis?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound