In keeping with a public discover published in the Complement to the Official Journal of the European Union, Ocean Protocol, a Singaporean non-profit basis, was employed to create a decentralized community for Germany’s Bundesbank.
The central financial institution mentioned that the Ocean protocol, which is a mission of comparatively restricted renown, was chosen principally as a result of they have been the one potential contractor for the job, citing a “lack of comparable rivals.”
Bundesbank detailed in its public discover that the principle objective of the mission is to arrange a “decentralized community method, which permits contributors a everlasting, symmetrical knowledge entry for the conclusion of real-time updates of statistics whereas preserving knowledge sovereignty.”
The establishment expects to work hand in hand with the Ocean protocol to construct a platform for securely publishing, transferring, and consuming private and non-private knowledge.
On October 21, Cointelegraph reported that the German central bank was considering alternatives to a CBDC. It’s potential that this announcement is our first look into what such another may contain.
In July, Ocean protocol announced that they would develop a pilot project with Mercedes-Benz’ producer, Daimler AG.