paywith.glass
 | |
| Founded | July 2019 in Amsterdam, Netherlands |
|---|---|
| Headquarters | Amsterdam, Hong Kong, London |
| Country of origin | Netherlands |
| Area served | Global: United Kindgom, Europe, Middle East, Africa, Canada, Latin-America, Caribbean, South America, India, Asia-Pacific |
| Owner | paywith.glass B.V. |
| Key people |
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| Industry | |
| Products |
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| Website | paywith |
| Launched | April 2022 |
| Written in | Java (programming language), C++, Julia (programming language), GoLang, Perl, Python (programming language), Javascript |
paywith.glass is Digital Asset/Realtime Payment (DA/RTP) infrastructure developed by the Dutch technology company, paywith.glass B.V. It combines software, machine learning algorithms for High-frequency trading (HFT)[1], distributed cloud hardware[2] and API protocols
In 2021, paywith.glass collaborated with Boston Consulting Group and various private industry stakeholders to launch Project New Era[3]. This initiative was in response to the Bank of England's discussion paper on Central Bank Digital Currency (CBDC)[4].
As part of Project New Era, the consortium released a Green Paper in February 2022[5][6]. The Green Paper explores various design aspects and risk mitigation strategies[7] associated with the deployment of a retail central bank digital currency.
The pilot program, led by the private sector[8], was designed to test various CBDC use cases[9], including retail payments, Cross-Border Payments, tokenization-as-a-service and support for payment institutions and electronic money issuers. The project aimed to share its findings with central banks, regulators and lawmakers to stimulate public debate and inform policy decisions related to digital currencies and financial market infrastructure.
In June 2022, the pilot was officially announced during the Money20/20 Europe fintech trade show via dedicated panel discussions[10]. Participants included representatives from various institutions and organizations, such as the UK's House of Lords, the House of Commons of the United Kingdom, the UK's Payment Systems Regulator (PSR), paywith.glass, Boston Consulting Group and Barclays, among others.
In August 2022, the cross-industry consortium responsible for Project New Era unveiled itself as the Digital FMI Consortium[11][12]. The founding members of this consortium were made public ahead of the launch of the UK's first retail CBDC pilot[13].
In May 2023, paywith.glass joined a consortium in Hong Kong that included Boston Consulting Group, ZA Bank, VSFG, HKT Limited and DLA Piper to support the Hong Kong Monetary Authority's CBDC pilot[14].
In October, the [[Hong Kong Monetary Authority] published its findings after the successful completion of the pilot[15]. It also granted the consortium clearance to launch commercial operations in Hong Kong[16].
See also[edit]
- Electronic commerce
- Financial technology
- E-Money Directive
- FedNow
- Central bank digital currency
- Digital yuan
- Bank of England
External links[edit]
- paywith.glass: A Secure, Scalable, Compliant, Privacy Preserving, Global Electronic Payments System for Cryptographically Secure Digital Assets
- Project New Era - The UK's first Digital Sterling Pilot
- Central Bank Digital Currency: opportunities, challenges and design
- Responses to the Bank of England's March 2020 Discussion Paper on CBDC
- The technology of retail central bank digital currency
References[edit]
- ↑ "Applications of Machine Learning Algorithms for Trading". LogicAI.
- ↑ "What is Distributed Cloud". IBM. Retrieved 2020-11-03.
- ↑ "The Payments Association Bridge the Gap Between CBDCs and the Current Payment System". The Fintech Times.
- ↑ "Central Bank Digital Currency: opportunities, challenges and design". Bank of England.
- ↑ "'A New Era for Money': Green Paper Outlines a Digital Future for the Pound". Bloomberg.
- ↑ "UK private sector consortium enters the CBDC game". The Banker.
- ↑ "UK Parliament Committee Sees More Risks Than Benefits in CBDCs". PYMNTS.
- ↑ "CBDC pilot: Payments industry group to launch trial for UK digital currency". City A.M.
- ↑ "Private sector project makes Britcoin play". Finextra.
- ↑ "How the government needs the private sector to test digital currencies". City A.M.
- ↑ "UK Cross-Industry Consortium to Focus on Future of Digital Currencies". PYMNTS.
- ↑ "Consortium to reimagine global financial system from UK". BusinessCloud.
- ↑ "IBM, Finastra participate in UK's Digital FMI Consortium planning retail CBDC pilot". Ledger Insights.
- ↑ "Secured Lending Application Selected for HKMA's Inaugural e-HKD Pilot Programme for Retail Central Bank Digital Currency (CBDC) Assessment". Yahoo Finance.
- ↑ "HKMA publishes findings of e-HKD pilot". FinanceAsia.
- ↑ "數位港元eHKD完成貸款測試，順暢RWA「代幣化物業抵押」，月底遞交試點計劃書". Blocktempo (in 中文).
Others articles of the Topic Business and economics : Currency, Economics, International trade
