In other words, the cost of being temporarily illiquid becomes expensive. Market players tend to be short-term orientated which, in turn, distorts monetary policy transmission and is also inefficient in promoting the role of the financial market in the economy.
If some of these experiments bear fruit, it will be important to address the challenge of how they would scale and achieve diffusion. In addition, determining exactly how the different distributed ledger technologies interoperate with each other, and legacy systems, will be critical.