Thirdly, it provides for a joint committee between the Bank and MRA that will meet at quarterly intervals to consider the implementation of the MoU and matters arising therefrom. I am sure that both the Bank and the MRA will be able to perform their responsibilities with better information than they would be able to without the MoU.
While following this three-layer approach for instant payments, we are fully aware that distributed ledger technologies, of which Blockchain is probably the bestknown example, have the potential to have a profound impact on both the payments and the post-trade industry. Can they make our industry more efficient?