Federal Reserve shares details on 'FooWire' distributed ledger experiment

The U.S. Federal Reserve published details about a 2019 payments trial involving distributed ledger technology, specifically the Hyperledger Fabric blockchain software.

The results were released alongside news that the Fed, the U.S. central bank, is partnering with the Massachusetts Institute of Technology on a multi-year effort focused on central bank-issued digital currencies or CBDCs. In statements, Fed governor Lael Brainard spoke about the Fed's work in this area to date, pointing to work conducted by researchers at the Federal Reserve Bank of Boston.

According to yesterday's test release, the so-called "FooWire" experiment was designed to test whether the technology is suited for payments application. As the team noted:

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