The Payments Association is proud to announce the formation of a consortium bridging the gap between today’s established payment systems and the new breed of blockchain-based solutions, to stimulate debate on a new era in finance. The newly formed alliance is creating a Green Paper exploring multiple use cases across the digital currency landscape that could arise from the creation of a new digital currencies infrastructure for financial markets.
The consortium is led by top-level fintech experts from The Payments Association, Boston Consulting Group, one of the world’s foremost management consulting companies, and paywith.glass, a Dutch-based FinTech company working extensively with artificial intelligence and distributed ledger technology. The consortium will publish its recommendations and use cases in a green paper, on the 4th February 2022.
The aim of the use cases would be to reduce the ‘friction’ in the financial world, giving financial institutions, merchants, and ultimately consumers much greater flexibility and control over their money. Following on from the publication of the Green Paper, a pilot will commence which is led by paywith.glass who will use its interoperable iDC/EP platform to enable a bridge between the old payment rails and the new CBDC world.