Page 7 of 12  Africa’s first DLT initiative, whose aim was to contribute to the global initiatives that assess the application and use case for DLT. Project Khokha was successful in that it proved that the typical daily volume of the South African payment system could be processed in less than two hours with full confidentiality of transactions and settlement finality.
This demonstrated to us that DLT has potential, but it has also become evident that there is a long road ahead before large-scale adoption can be considered.12  New technology is increasing the efficiency of key banking functions through enabling the creation of new financial services. In terms of lending and borrowing, for example, ‘crowd-funding’13 and online ‘peer-to-peer lending platforms’14 are buzzwords.